400.2-502. Buyer's right to goods on seller's repudiation, failure to deliver, or insolvency. - Missouri Statutes

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Statutes > Missouri > T26 > C400 > 400_2-502

Buyer's right to goods on seller's repudiation, failure to deliver,or insolvency.

400.2-502. (1) Subject to subsections (2) and (3) of this sectionand even though the goods have not been shipped, a buyer who has paid apart or all of the price of goods in which he or she has a special propertyunder the provisions of section 400.2-501 may on making and keeping good atender of any unpaid portion of their price recover them from the sellerif:

(a) in the case of goods bought for personal, family or householdpurposes, the seller repudiates or fails to deliver as required by thecontract; or

(b) in all cases, the seller becomes insolvent within ten days afterreceipt of the first installment on their price.

(2) The buyer's right to recover the goods under subdivision (a) ofthis section vests upon acquisition of a special property, even if theseller had not then repudiated or failed to deliver.

(3) If the identification creating his or her special property hasbeen made by the buyer he or she acquires the right to recover the goodsonly if they conform to the contract for sale.

(L. 1963 p. 503 § 2-502, A.L. 2001 S.B. 288)
Effective 7-01-01

State Codes and Statutes

Statutes > Missouri > T26 > C400 > 400_2-502

Buyer's right to goods on seller's repudiation, failure to deliver,or insolvency.

400.2-502. (1) Subject to subsections (2) and (3) of this sectionand even though the goods have not been shipped, a buyer who has paid apart or all of the price of goods in which he or she has a special propertyunder the provisions of section 400.2-501 may on making and keeping good atender of any unpaid portion of their price recover them from the sellerif:

(a) in the case of goods bought for personal, family or householdpurposes, the seller repudiates or fails to deliver as required by thecontract; or

(b) in all cases, the seller becomes insolvent within ten days afterreceipt of the first installment on their price.

(2) The buyer's right to recover the goods under subdivision (a) ofthis section vests upon acquisition of a special property, even if theseller had not then repudiated or failed to deliver.

(3) If the identification creating his or her special property hasbeen made by the buyer he or she acquires the right to recover the goodsonly if they conform to the contract for sale.

(L. 1963 p. 503 § 2-502, A.L. 2001 S.B. 288)
Effective 7-01-01

State Codes and Statutes

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State Codes and Statutes

Statutes > Missouri > T26 > C400 > 400_2-502

Buyer's right to goods on seller's repudiation, failure to deliver,or insolvency.

400.2-502. (1) Subject to subsections (2) and (3) of this sectionand even though the goods have not been shipped, a buyer who has paid apart or all of the price of goods in which he or she has a special propertyunder the provisions of section 400.2-501 may on making and keeping good atender of any unpaid portion of their price recover them from the sellerif:

(a) in the case of goods bought for personal, family or householdpurposes, the seller repudiates or fails to deliver as required by thecontract; or

(b) in all cases, the seller becomes insolvent within ten days afterreceipt of the first installment on their price.

(2) The buyer's right to recover the goods under subdivision (a) ofthis section vests upon acquisition of a special property, even if theseller had not then repudiated or failed to deliver.

(3) If the identification creating his or her special property hasbeen made by the buyer he or she acquires the right to recover the goodsonly if they conform to the contract for sale.

(L. 1963 p. 503 § 2-502, A.L. 2001 S.B. 288)
Effective 7-01-01