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Session Laws, 1963
Volume 671, Page 792   View pdf image (33K)
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794                               LAWS OF MARYLAND                        [CH. 538

as establishing a common basis of understanding for interpreting
their expressions and other conduct.

(2)  A usage of trade is any practice or method of dealing having
such regularity of observance in a place, vocation or trade as to jus-
tify an expectation that it will be observed with respect to the trans-
action in question. The existence and scope of such a usage are to
be proved as facts. If it is established that such a usage is embodied
in a written trade code or similar writing the interpretation of the
writing is for the court.

(3)  A course of dealing between parties and any usage of trade
in the vocation or trade in which they are engaged or of which they
are or should be aware give particular meaning to and supplement
or qualify terms of an agreement.

(4) The express terms of an agreement and an applicable course
of dealing or usage of trade shall be construed wherever reasonable
as consistent with each other; but when such construction is unrea-
sonable express terms control both course of dealing and usage of
trade and course of dealing controls usage of trade.

(5)  An applicable usage of trade in the place where any part of
performance is to occur shall be used in interpreting the agreement
as to that part of the performance.

(6)  Evidence of a relevant usage of trade offered by one party is
not admissible unless and until he has given the other party such
notice as the court finds sufficient to prevent unfair surprise to the
latter.

1206. Statute of Frauds for Kinds of Personal Property Not
Otherwise Covered.

(1)  Except in the cases described in sub-section (2) of this sec-
tion a contract for the sale of personal property is not enforceable
by way of action or defense beyond five thousand dollars ($5000) in
amount or value of remedy unless there is some writing which indi-
cates that a contract for sale has been made between the parties at
a defined or stated price, reasonably identifies the subject matter, and
is signed by the party against whom enforcement is sought or by his
authorized agent.

(2)  Sub-section (1) of this section does not apply to contracts for
the sale of goods (Section 2
201) nor of securities (Section 8319)
nor to security agreements (Section 9
203).

1207. Performance or Acceptance Under Reservation of Rights.

A party who with explicit reservation of rights performs or prom-
ises performance or assents to performance in a manner demanded
or offered by the other party does not thereby prejudice the rights
reserved. Such words as "without prejudice", "under protest" or the
like are sufficient.

1208. Option to Accelerate at Will.

A term providing that one party or his successor in interest may
accelerate payment or performance or require collateral or additional
collateral "at will" or "when he deems himself insecure" or in words
of similar import shall be construed to mean that he shall have power


 

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Session Laws, 1963
Volume 671, Page 792   View pdf image (33K)
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