Page:United States Statutes at Large Volume 77.djvu/664

 632

PUBLIC LAW 88-243-DEC. 30, 1963

[77 STAT.

Bulk transfers subject to the article on bulk transfers. Section 28:6—102. Applicability of the article on investment securities. Section 28:8—106. Policy and scope of the article on secured transactions. Sections 28:9—102 and 28:9—103. §28:1—106. Remedies to be liberally administered (1) The remedies provided by this subtitle shall be liberally administered to the end that the aggrieved party may be put in as good a position as if the other party had fully performed but neither consequential or special nor penal damages may be had except as specifically provided in this subtitle or by other rule of law. (2) Any right or obligation declared by this subtitle is enforceable by action unless the provision declaring it specifies a different and limited effect. § 28:1--107. Waiver or renunciation of claim or right after breach Any claim or right arising out of an alleged breach can be discharged in whole or in part without consideration by a written waiver or renunciation signed and delivered by the aggrieved party. §28:1—108. Severability If any provision or clause of this subtitle or application thereof to any person or circumstances is held invalid, such invalidity shall not affect other provisions or applications of this subtitle which can be given effect without the invalid provision or application, and to this end the provisions of this subtitle are declared to be severable. § 28:1—109. Section captions Section captions are parts of this subtitle. PART 2—GENERAL DEFINITIONS A N D PRINCIPLES OF INTERPRETATION §28:1—201. General definitions Subject to additional definitions contained in the subsequent articles of this subtitle which are applicable to specific articles or parts thereof, and unless the context otherwise requires, in this subtitle: (1) "Action" in the sense of a judicial proceeding includes recoupment, counterclaim, set-off, suit in equity and any other proceedings in which rights are determined. (2) "Aggrieved party" means a party entitled to resort to a remedy. (3) "Agreement" means the bargain of the parties in fact as found in their language or by implication from other circumstances including course of dealing or usage of trade or course of performance as provided in this subtitle (sections 28:1—205 and 2—208). Whether an agreement has legal consequences is determined by the provisions of this subtitle, if applicable; otherwise by the law of contracts (section 28:1—103). (Compare "Contract".) (4) "Bank" means any person engaged in the business of banking. (5) "Bearer" means the person in possession of an instrument, document of title, or security payable to bearer or indorsed in blank. (6) "Bill of lading" means a document evidencing the receipt of goods for shipment issued by a person engaged in the business of trans porting or forwarding goods, and includes an airbill. "Airbill" means a document serving for air transportation as a bill of lading does for marine or rail transportation, and includes an air consignment note or air waybill.

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