Modern Aero Sales, Inc. v. Winzen Research, Inc.

GUITTARD, Justice.

Modern Aero Sales, Inc. sued Winzen Research, Inc. for damages for breach of an option agreement for purchase of an aircraft. The trial court, sitting without a jury, denied recovery on the ground that plaintiff Modern Aero failed to make a valid tender of the purchase price, and plaintiff appeals. Our questions are (1) whether a bank draft was a means of payment “current in the ordinary course of business” under the Uniform Commercial Code, § 2.511(b), 1 V.T.C.A., (2) whether the seller’s rejection of such draft and demand for legal tender had the effect of extending the…