GroundRules
← Search the law
us-gu · Through P.L. 38-133 (June 4, 2026)

13 GCA § 8107: Delivery of Equivalent of Securities; Recovery by Seller.

Read at publisher ↗
Where this section sits in the code
  1. Title 13: Uniform Commercial Code
  2. Division 8: Investment Securities
  3. CHAPTER 1: SHORT TITLE AND GENERAL MATTERS

(1) Unless otherwise agreed, a person obligated to deliver securities may deliver a like number of units of any securities which by nature or usage of trade are the equivalent of the securities he is obligated to deliver.

(2) Where, pursuant to the contract to sell or a sale, a security has been delivered or tendered to the purchaser, and the purchaser wrongfully fails to pay for the security according to the terms of the contract or the sale, the seller may as an alternative to any other remedy recover the agreed price of the security. This subdivision does not affect the remedy of a seller if the security has not been delivered or tendered.

Collected 2026-09-27T03:28:48Z. Source file · JSON

Browse this collection