Long-term Contracts, Breach, and the Uniform Commercial Code's Notice Requirements

Tuesday, May 1, 2007

"Automotive industry supply relationships frequently involve a prolonged, multi-stage contract process.  This process typically begins with some form of "award letter" that designates a supplier as the source of a part and establishes, with varying degrees of specificity and firmness, price and other commerical terms of the transaction.  Many months, even years, may pass before actual production begins.  Before the start of production, initial terms may be modified..."

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