{"data":{"id":"us-nm/55-1-206","jurisdiction":"us-nm","citation":"55-1-206","heading":"Presumptions.","body":"Whenever the Uniform Commercial Code creates a \"presumption\" with respect to a fact, or provides that a fact is \"presumed\", the trier of fact must find the existence of the fact unless and until evidence is introduced that supports a finding of its nonexistence.\nOFFICIAL COMMENTS\nUCC Official Comments © by ALI \u0026 the NCCUSL. Reproduced with permission of the PEB for the UCC. All rights reserved.\nSource. - Former Section 1-201(31) [55-1-201(31) NMSA 1978].\nChanges from former law. - None, other than stylistic changes.\nSeveral sections of the Uniform Commercial Code state that there is a \"presumption\" as to a certain fact, or that the fact is \"presumed.\" This section, derived from the definition appearing in former Section 1-201(31) [55-1-201(31) NMSA 1978], indicates the effect of those provisions on the proof process.\nPurposes. - To fill the gap left by the statute of frauds provisions for goods (Section 2-201 [55-2-201 NMSA 1978]), securities (Section 2-319 [55-2-319 NMSA 1978]) and security interests (Section 9-203 [55-9-203 NMSA 1978]). The Uniform Sales Act covered the sale of \"choses in action\"; the principal gap relates to sale of the \"general intangibles\" defined in Article 9 (Section 9-106 [55-9-106 NMSA 1978]) and to transactions excluded from Article 9 by Section 9-104 [55-9-104 NMSA 1978]. Typical are the sale of bilateral contracts, royalty rights or the like. The informality normal to such transactions is recognized by lifting the limit for oral transactions to $5,000. In such transactions there is often no standard of practice by which to judge, and values can rise or drop without warning; troubling abuses are avoided when the dollar limit is exceeded by requiring that the subject-matter be reasonably identified in a signed writing which indicates that a contract for sale has been made at a defined or stated price.\n\"Action\". Section 1-201.\n\"Agreement\". Section 1-201.\n\"Contract\". Section 1-201.\n\"Contract for sale\". Section 2-106.\n\"Goods\". Section 2-105.\n\"Party\". Section 1-201.\n\"Sale\". Section 2-106.\n\"Signed\". Section 1-201.\n\"Writing\". Section 1-201.","path":["Chapter 55 - Uniform Commercial Code","ARTICLE 1 General Provisions"],"source_url":"https://nmonesource.com/nmos/nmsa-unanno/en/item/18558/index.do","current_through":"2024-04-27","vintage":"","retrieved_at":"2026-09-03T15:02:20Z","sha256":"9686ca85c547e88f22ac4a9a9fb0e7f3718c4c5177508f6e96a49d4100ee3ddc","source_id":"us-nm","stale":false,"prev":"us-nm/55-1-205","next":"us-nm/55-1-207"},"notice":"GroundRules: Original legal text. Not legal advice."}