Civil Transactions Law

1. If the amount of the sold item is specified at the time of conclusion of the contract and it appears that such amount has a shortfall or surplus with no agreement on how to address such shortfall or surplus, the following shall apply: a) If the sold item is an item that is adversely affected by division and the named price is determined on a lump sum basis rather than by unit price, the surplus shall belong to the buyer and the shortfall shall not entail a reduction in the price. In other cases, the shortfall shall be borne by the Civil Transactions Law seller, and he may recover the surplus in-kind if the sold item is not adversely affected by division, or he may recover the amount paid if the sold item is adversely affected by division. b) If the buyer’s purchase entails a surplus that grossly exceeds his needs, or if the shortfall negates the purpose of his purchase that had he been aware thereof he would not have concluded the contract, he may demand termination of the sale. 2. A claim for termination of the contract or for reducing the price or completing the payment shall not be heard upon the lapse of one year from the date of delivery of the sold item.