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New York Consolidated Laws, Not-For-Profit Corporation Law - NPC § 555. Release or modification of restrictions on management, investment, or purpose

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(1) Acceptance of goods occurs when the buyer

(a) After a reasonable opportunity to inspect the goods signifies to the seller that the goods are conforming or that he will take or retain them in spite of their nonconformity; or

(b) Fails to make an effective rejection (subdivision (1) of Section 2602), but such acceptance does not occur until the buyer has had a reasonable opportunity to inspect them; or

(c) Does any act inconsistent with the seller's ownership; but if such act is wrongful as against the seller it is an acceptance only if ratified by him.

(2) Acceptance of a part of any commercial unit is acceptance of that entire unit.

Cite this article: FindLaw.com - New York Consolidated Laws, Not-For-Profit Corporation Law - NPC § 555. Release or modification of restrictions on management, investment, or purpose - last updated January 01, 2021 | https://codes.findlaw.com/ny/notforprofit-corporation-law/npc-sect-555/


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