§490:2-502 - Buyer's right to goods on seller's repudiation, failure to deliver, or insolvency.
§490:2-502 Buyer's right to goods on
seller's repudiation, failure to deliver, or insolvency. (1) Subject to
subsections (2) and (3), 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 the buyer 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 all 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 subsection (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 the buyer's
special property has been made by the buyer, the buyer acquires the right to
recover the goods only if they conform to the contract for sale. [L 1965, c
208, §2-502; HRS §490:2-502; am L 2000, c 241, §14]