§ 25-2-310. Open time for payment or running of credit; authority to ship under reservation. - North Carolina Statutes

PART 3.

GENERAL OBLIGATION ANDCONSTRUCTION OF CONTRACT.

§ 25‑2‑310.  Opentime for payment or running of credit; authority to ship under reservation.

Unless otherwise agreed

(a)        payment is due atthe time and place at which the buyer is to receive the goods even though theplace of shipment is the place of delivery; and

(b)        if the seller isauthorized to send the goods he may ship them under reservation, and may tenderthe documents of title, but the buyer may inspect the goods after their arrivalbefore payment is due unless such inspection is inconsistent with the terms ofthe contract (G.S. 25‑2‑513); and

(c)        if delivery isauthorized and made by way of documents of title otherwise than by subsection(b) then payment is due regardless of where the goods are to be received (i) atthe time and place at which the buyer is to receive delivery of the tangibledocuments or (ii) at the time the buyer is to receive delivery of theelectronic documents and at the seller's place of business or if none, theseller's residence; and

(d)        where the seller isrequired or authorized to ship the goods on credit the credit period runs fromthe time of shipment but postdating the invoice or delaying its dispatch willcorrespondingly delay the starting of the credit period. (1965, c. 700, s. 1; 2006‑112,s. 29.)