Remedies for material misrepresentation or fraud include all remedies available under this article for non-fraudulent breach. Neither rescission or a claim for rescission of the contract for sale nor rejection or return of the goods shall bar or be deemed inconsistent with a claim for damages or other remedy.
History: 1953 Comp., § 50A-2-721, enacted by Laws 1961, ch. 96, § 2-721.
OFFICIAL COMMENTS
UCC Official Comments by ALI & the NCCUSL. Reproduced with permission of the PEB for the UCC. All rights reserved.
Prior uniform statutory provision. — None.
Purposes. — To correct the situation by which remedies for fraud have been more circumscribed than the more modern and mercantile remedies for breach of warranty. Thus the remedies for fraud are extended by this section to coincide in scope with those for non-fraudulent breach. This section thus makes it clear that neither rescission of the contract for fraud nor rejection of the goods bars other remedies unless the circumstances of the case make the remedies incompatible.
"Contract for sale". Section 2-106.
"Goods". Section 1-201.
"Remedy". Section 1-201.
Law reviews. — For article, "Buyers and Sellers of Goods in Bankruptcy," see 1 N.M. L. Rev. 435 (1971).
Am. Jur. 2d, A.L.R. and C.J.S. references. — 37 Am. Jur. 2d Fraud and Deceit § 9.
Use of article by buyer as waiver of right to rescind for fraud, breach of warranty or failure of goods to comply with contract, 77 A.L.R. 1165, 41 A.L.R.2d 1173.
Finance company's liability in connection with consumer fraud practices of party selling goods or services, 18 A.L.R.4th 824.
Computer sales and leases: breach of warranty, misrepresentation, or failure of consideration as defense or ground for affirmative relief, 37 A.L.R.4th 110.
77A C.J.S. Sales § 325 et seq.
Structure New Mexico Statutes
Chapter 55 - Uniform Commercial Code
Section 55-2-701 - Remedies for breach of collateral contracts not impaired.
Section 55-2-702 - Seller's remedies on discovery of buyer's insolvency.
Section 55-2-703 - Seller's remedies in general.
Section 55-2-705 - Seller's stoppage of delivery in transit or otherwise.
Section 55-2-706 - Seller's resale including contract for resale.
Section 55-2-707 - "Person in the position of a seller."
Section 55-2-708 - Seller's damages for nonacceptance or repudiation.
Section 55-2-709 - Action for the price.
Section 55-2-710 - Seller's incidental damages.
Section 55-2-711 - Buyer's remedies in general; buyer's security interest in rejected goods.
Section 55-2-712 - "Cover"; buyer's procurement of substitute goods.
Section 55-2-713 - Buyer's damages for nondelivery or repudiation.
Section 55-2-714 - Buyer's damages for breach in regard to accepted goods.
Section 55-2-715 - Buyer's incidental and consequential damages.
Section 55-2-716 - Buyer's right to specific performance or replevin.
Section 55-2-717 - Deduction of damages from the price.
Section 55-2-718 - Liquidation or limitation of damages; deposits.
Section 55-2-719 - Contractual modification or limitation of remedy.
Section 55-2-720 - Effect of "cancellation" or "rescission" on claims for antecedent breach.
Section 55-2-721 - Remedies for fraud.
Section 55-2-722 - Who can sue third parties for injury to goods.
Section 55-2-723 - Proof of market price; time and place.
Section 55-2-724 - Admissibility of market quotations.
Section 55-2-725 - Statute of limitations in contracts for sale.