§2-502. Buyer's right to goods on seller's repudiation, failure to deliver, or insolvency

Link to law: http://legislature.vermont.gov/statutes/section/09A/002/00502
Published: 2015

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The Vermont Statutes Online



Title

09A

:
Uniform Commercial Code






Chapter

002

:
Sales











 

§

2-502. Buyer's right to goods on seller's repudiation, failure to deliver, or

insolvency

(1) Subject to

subsections (2) and (3) of this section and even though the goods have not been

shipped a buyer who has paid a part or all of the price of goods in which he or

she has a special property under the provisions of the immediately preceding

section may on making and keeping good a tender of any unpaid portion of their

price recover them from the seller if:

(a) in the case

of goods bought for personal, family, or household purposes, the seller

repudiates or fails to deliver as required by the contract; or

(b) in other

cases, the seller becomes insolvent within ten days after receipt of the first

installment on their price.

(2) The buyer's

right to recover the goods under paragraph (1)(a) vests upon acquisition of a

special property, even if the seller had not then repudiated or failed to

deliver.

(3) If the

identification creating his or her special property has been made by the buyer

he or she acquires the right to recover the goods only if they conform to the

contract for sale. (Amended 1999, No. 106 (Adj. Sess.), § 8, eff. July 1,

2001.)
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