Vermont StatutesTitle 09A - Uniform Commercial Code
- Article 1 - General Provisions (Contains: §§ 101 – 310)
- Article 2 - Sales (Contains: §§ 101 – 725)
- ยง 101 - Short title
- ยง 102 - Scope; certain security and other transactions excluded from this article
- ยง 103 - Definitions and index of definitions
- ยง 104 - Definitions: 'merchant'; 'between merchants'; 'financing agency'
- ยง 105 - Definitions: transferability; 'goods'; 'future' goods; 'lot'; 'commercial unit'
- ยง 106 - Definitions: 'contract'; 'agreement'; 'contract for sale'; 'sale'; 'present sale'; 'conforming' to contract
- ยง 107 - Goods to be severed from realty: recording
- ยง 108 - Miscellaneous health provisions; blood or tissue transfer services
- ยง 201 - Formal requirements; statute of frauds
- ยง 202 - Final written expression: parol or extrinsic evidence
- ยง 203 - Seals inoperative
- ยง 204 - Formation in general
- ยง 205 - Firm offers
- ยง 206 - Offer and acceptance in formation of contract
- ยง 207 - Additional terms in acceptance or confirmation
- ยง 208 - Repealed. 2007, No. 99 (Adj. Sess.), ยง 20.
- ยง 209 - Modification, rescission and waiver
- ยง 210 - Delegation of performance; assignment of rights
- ยง 301 - General obligations of parties
- ยง 302 - Unconscionable contract or clause
- ยง 303 - Allocation or division of risks
- ยง 304 - Price payable in money, goods, realty, or otherwise
- ยง 305 - Open price term
- ยง 306 - Output, requirements and exclusive dealings
- ยง 307 - Delivery in single lot or several lots
- ยง 308 - Absence of specified place for delivery
- ยง 309 - Absence of specific time provisions; notice of termination
- ยง 310 - Open time for payment or running of credit; authority to ship under reservation
- ยง 311 - Options and cooperation respecting performance
- ยง 312 - Warranty of title and against infringement; buyer's obligation against infringement
- ยง 313 - Express warranties by affirmation, promise, description, sample
- ยง 314 - Implied warranty: merchantability; usage of trade
- ยง 315 - Implied warranty: fitness for particular purpose
- ยง 316 - Exclusion or modification of warranties
- ยง 317 - Cumulation and conflict of warranties express or implied
- ยง 318 - Third party beneficiaries of warranties express or implied
- ยง 319 - F.O.B. and F.A.S. terms
- ยง 320 - C.I.F. and C. & F. terms
- ยง 321 - C.I.F. or C. & F.: 'net landed weights'; 'payment on arrival'; warranty of condition on arrival
- ยง 322 - Delivery 'ex-ship'
- ยง 323 - Form of bill of lading required in overseas shipment; 'overseas'
- ยง 324 - 'No arrival, no sale' term
- ยง 325 - 'Letter of credit' term; 'confirmed credit'
- ยง 326 - Sale on approval and sale or return; rights of creditors
- ยง 327 - Special incidents of sale on approval and sale or return
- ยง 328 - Sale by auction
- ยง 401 - Passing of title; reservation for security; limited application of this section
- ยง 402 - Rights of seller's creditors against sold goods
- ยง 403 - Power to transfer; good faith purchase of goods; 'entrusting'
- ยง 501 - Insurable interest in goods; manner of identification of goods
- ยง 502 - Buyer's right to goods on seller's repudiation, failure to deliver, or insolvency
- ยง 503 - Manner of seller's tender of delivery
- ยง 504 - Shipment by seller
- ยง 505 - Seller's shipment under reservation
- ยง 506 - Rights of financing agency
- ยง 507 - Effect of seller's tender; delivery on condition
- ยง 508 - Cure by seller of improper tender or delivery; replacement
- ยง 509 - Risk of loss in the absence of breach
- ยง 510 - Effect of breach on risk of loss
- ยง 511 - Tender of payment by buyer; payment by check
- ยง 512 - Payment by buyer before inspection
- ยง 513 - Buyer's right to inspection of goods
- ยง 514 - When documents deliverable on acceptance; when on payment
- ยง 515 - Preserving evidence of goods in dispute
- ยง 601 - Buyer's rights on improper delivery
- ยง 602 - Manner and effect of rightful rejection
- ยง 603 - Merchant buyer's duties as to rightfully rejected goods
- ยง 604 - Buyer's options as to salvage of rightfully rejected goods
- ยง 605 - Waiver of buyer's objections by failure to particularize
- ยง 606 - What constitutes acceptance of goods
- ยง 607 - Effect of acceptance; notice of breach; burden of establishing breach after acceptance; notice of claim or litigation to person answerable over
- ยง 608 - Revocation of acceptance in whole or in part
- ยง 609 - Right to adequate assurance of performance
- ยง 610 - Anticipatory repudiation
- ยง 611 - Retraction of anticipatory repudiation
- ยง 612 - 'Installment contract'; breach
- ยง 613 - Casualty to identified goods
- ยง 614 - Substituted performance
- ยง 615 - Excuse by failure of presupposed conditions
- ยง 616 - Procedure on notice claiming excuse
- ยง 701 - Remedies for breach of collateral contracts not impaired
- ยง 702 - Seller's remedies on discovery of buyer's insolvency
- ยง 703 - Seller's remedies in general
- ยง 704 - Seller's right to identify goods to the contract notwithstanding breach or to salvage unfinished goods
- ยง 705 - Seller's stoppage of delivery in transit or otherwise
- ยง 706 - Seller's resale including contract for resale
- ยง 707 - 'Person in the position of a seller'
- ยง 708 - Seller's damages for non-acceptance or repudiation
- ยง 709 - Action for the price
- ยง 710 - Seller's incidental damages
- ยง 711 - Buyer's remedies in general; buyer's security interest in rejected goods
- ยง 712 - 'Cover'; buyer's procurement of substitute goods
- ยง 713 - Buyer's damages for non-delivery or repudiation
- ยง 714 - Buyer's damages for breach in regard to accepted goods
- ยง 715 - Buyer's incidental and consequential damages
- ยง 716 - Buyer's right to specific performance or replevin
- ยง 717 - Deduction of damages from the price
- ยง 718 - Liquidation or limitation of damages; deposits
- ยง 719 - Contractual modification or limitation of remedy
- ยง 720 - Effect of 'cancellation' or 'rescission' on claims for antecedent breach
- ยง 721 - Remedies for fraud
- ยง 722 - Who can sue third parties for injury to goods
- ยง 723 - Proof of market price: time and place
- ยง 724 - Admissibility of market quotations
- ยง 725 - Statute of limitations in contracts for sale
- Article 2A - Leases (Contains: §§ 101 – 532)
- ยง 101 - Short title
- ยง 102 - Scope
- ยง 103 - Definitions and index of definitions
- ยง 104 - Leases subject to other law
- ยง 105 - Territorial application of article to goods covered by certificate of title
- ยง 106 - Limitation on power of parties to consumer lease to choose applicable law and judicial forum
- ยง 107 - Waiver or renunciation of claim or right after default
- ยง 108 - Unconscionability
- ยง 109 - Option to accelerate at will
- ยง 201 - Statute of frauds
- ยง 202 - Final written expression; parol or extrinsic evidence
- ยง 203 - Seals inoperative
- ยง 204 - Formation in general
- ยง 205 - Firm offers
- ยง 206 - Offer and acceptance in formation of lease contract
- ยง 207 - Repealed. 2007, No. 99 (Adj. Sess.), ยง 20.
- ยง 208 - Modification, rescission and waiver
- ยง 209 - Lessee under finance lease as beneficiary of supply contract
- ยง 210 - Express warranties
- ยง 211 - Warranties against interference and against infringement; lessee's obligation against infringement
- ยง 212 - Implied warranty of merchantability
- ยง 213 - Implied warranty of fitness for particular purpose
- ยง 214 - Exclusion or modification of warranties
- ยง 215 - Cumulation and conflict of warranties express or implied
- ยง 216 - Third-party beneficiaries of express and implied warranties
- ยง 217 - Identification
- ยง 218 - Insurance and proceeds
- ยง 219 - Risk of loss
- ยง 220 - Effect of default on risk of loss
- ยง 221 - Casualty to identified goods
- ยง 301 - Enforceability of lease contract
- ยง 302 - Title to and possession of goods
- ยง 303 - Alienability of party's interest under lease contract or of lessor's residual interest in goods; delegation of performance; transfer of rights
- ยง 304 - Subsequent lease of goods by lessor
- ยง 305 - Sale or sublease of goods by lessee
- ยง 306 - Priority of certain liens arising by operation of law
- ยง 307 - Priority of liens arising by attachment or levy on, security interests in, and other claims to goods
- ยง 308 - Special rights of creditors
- ยง 309 - Lessor's and lessee's rights when goods become fixtures
- ยง 310 - Lessor's and lessee's rights when goods become accessions
- ยง 311 - Priority subject to subordination
- ยง 401 - Insecurity: adequate assurance of performance
- ยง 402 - Anticipatory repudiation
- ยง 403 - Retraction of anticipatory repudiation
- ยง 404 - Substituted performance
- ยง 405 - Excused performance
- ยง 406 - Procedure on excused performance
- ยง 407 - Irrevocable promises: finance leases
- ยง 501 - Default: procedure
- ยง 502 - Notice after default
- ยง 503 - Modification or impairment of rights and remedies
- ยง 504 - Liquidation of damages
- ยง 505 - Cancellation and termination and effect of cancellation, termination, rescission, or fraud on rights and remedies
- ยง 506 - Statute of limitations
- ยง 507 - Proof of market rent: time and place
- ยง 508 - Lessee's remedies
- ยง 509 - Lessee's rights on improper delivery; rightful rejection
- ยง 510 - Installment lease contracts: rejection and default
- ยง 511 - Merchant lessee's duties as to rightfully rejected goods
- ยง 512 - Lessee's duties as to rightfully rejected goods
- ยง 513 - Cure by lessor of improper tender or delivery; replacement
- ยง 514 - Waiver of lessee's objections
- ยง 515 - Acceptance of goods
- ยง 516 - Effect of acceptance of goods; notice of default; burden of establishing default after acceptance; notice of claim or litigation to person answerable over
- ยง 517 - Revocation of acceptance of goods
- ยง 518 - Cover; substitute goods
- ยง 519 - Lessee's damages for non-delivery, repudiation, default, and breach of warranty in regard to accepted goods
- ยง 520 - Lessee's incidental and consequential damages
- ยง 521 - Lessee's right to specific performance or replevin
- ยง 522 - Lessee's right to goods on lessor's insolvency
- ยง 523 - Lessor's remedies
- ยง 524 - Lessor's right to identify goods to lease contract
- ยง 525 - Lessor's right to possession of goods
- ยง 526 - Lessor's stoppage of delivery in transit or otherwise
- ยง 527 - Lessor's rights to dispose of goods
- ยง 528 - Lessor's damages for non-acceptance, failure to pay, repudiation, or other default
- ยง 529 - Lessor's action for the rent
- ยง 530 - Lessor's incidental damages
- ยง 531 - Standing to sue third parties for injury to goods
- ยง 532 - Lessor's rights to residual interest
- Article 3 - Commercial Paper (Contains: §§ 101 – 605)
- Article 4 - Bank Deposits and Collections (Contains: §§ 101 – 504)
- Article 4A - Funds Transfers (Contains: §§ 101 – 507)
- Article 5 - Letters of Credit (Contains: §§ 101 – 118)
- Article 6 - Bulk Transfers (Contains: §§ 101 – 101)
- Article 7 - Warehouse Receipts, Bills of Lading and Other Docu (Contains: §§ 101 – 603)
- Article 8 - Investment Securities (Contains: §§ 101 – 511)
- ยง 101 - Short title
- ยง 102 - Definitions
- ยง 103 - Rules for determining whether certain obligations and interests are securities or financial assets
- ยง 104 - Acquisition of security or financial asset or interest therein
- ยง 105 - Notice of adverse claim
- ยง 106 - Control
- ยง 107 - Whether indorsement, instruction, or entitlement order is effective
- ยง 108 - Warranties in direct holding
- ยง 109 - Warranties in indirect holding
- ยง 110 - Applicability; choice of law
- ยง 111 - Clearing corporation rules
- ยง 112 - Creditor's legal process
- ยง 113 - Statute of frauds inapplicable
- ยง 114 - Evidentiary rules concerning certificated securities
- ยง 115 - Securities intermediary and others not liable to adverse claimant
- ยง 116 - Securities intermediary as purchaser for value
- ยง 201 - Issuer
- ยง 202 - Issuer's responsibility and defenses; notice of defect or defense
- ยง 203 - Staleness as notice of defect or defense
- ยง 204 - Effect of issuer's restriction on transfer
- ยง 205 - Effect of unauthorized signature on security certificate
- ยง 206 - Completion or alteration of security certificate
- ยง 207 - Rights and duties of issuer with respect to registered owners
- ยง 208 - Effect of signature of authenticating trustee, registrar, or transfer agent
- ยง 209 - Issuer's lien
- ยง 210 - Overissue
- ยง 301 - Delivery
- ยง 302 - Rights of purchaser
- ยง 303 - Protected purchaser
- ยง 304 - Indorsement
- ยง 305 - Instruction
- ยง 306 - Effect of guaranteeing signature, indorsement, or instruction
- ยง 307 - Purchaser's right to requisites for registration of transfer
- ยง 401 - Duty of issuer to register transfer
- ยง 402 - Assurance that indorsement or instruction is effective
- ยง 403 - Demand that issuer not register transfer
- ยง 404 - Wrongful registration
- ยง 405 - Replacement of lost, destroyed, or wrongfully taken security certificate
- ยง 406 - Obligation to notify issuer of lost, destroyed, or wrongfully taken security certificate
- ยง 407 - Authenticating trustee, transfer agent, and registrar
- ยง 501 - Securities account; acquisition of security entitlement from securities intermediary
- ยง 502 - Assertion of adverse claim against entitlement holder
- ยง 503 - Property interest of entitlement holder in financial asset held by securities intermediary
- ยง 504 - Duty of securities intermediary to maintain financial asset
- ยง 505 - Duty of securities intermediary with respect to payments and distributions
- ยง 506 - Duty of securities intermediary to exercise rights as directed by entitlement holder
- ยง 507 - Duty of securities intermediary to comply with entitlement order
- ยง 508 - Duty of securities intermediary to change entitlement holder's position to other form of security holding
- ยง 509 - Specification of duties of securities intermediary by other statute or regulation; manner of performance of duties of securities intermediary and exercise
- ยง 510 - Rights of purchaser of security entitlement from entitlement holder
- ยง 511 - Priority among security interests and entitlement holders
- Article 9 - Secured Transactions (Contains: §§ 101 – 709)
- ยง 101 - Short title
- ยง 102 - Definitions and index of definitions
- ยง 103 - Purchase-money security interest; application of payments; burden of establishing
- ยง 103A - 'Production-money crops'; 'production-money obligation'; 'production-money security interest'; burden of establishing
- ยง 104 - Control of deposit account
- ยง 105 - Control of electronic chattel paper
- ยง 106 - Control of investment property
- ยง 107 - Control of letter-of-credit right
- ยง 108 - Sufficiency of description in a security agreement
- ยง 109 - Scope
- ยง 110 - Security interests arising under Article 2 or 2a
- ยง 201 - General effectiveness of security agreement
- ยง 202 - Title to collateral immaterial
- ยง 203 - Attachment and enforceability of security interest; proceeds; supporting obligations; formal requisites
- ยง 204 - After-acquired property; future advances
- ยง 205 - Use or disposition of collateral permissible
- ยง 206 - Security interest arising in purchase or delivery of financial asset
- ยง 207 - Rights and duties of secured party having possession or control of collateral
- ยง 208 - Additional duties of secured party having control of collateral
- ยง 209 - Duties of secured party if account debtor has been notified of assignment
- ยง 210 - Request for accounting; request regarding list of collateral or statement of account
- ยง 301 - Law governing perfection and priority of security interests
- ยง 302 - Law governing perfection and priority of agricultural liens
- ยง 303 - Law governing perfection and priority of security interests in goods covered by a certificate of title
- ยง 304 - Law governing perfection and priority of security interests in deposit accounts
- ยง 305 - Law governing perfection and priority of security interests in investment property
- ยง 306 - Law governing perfection and priority of security interests in letter-of-credit rights
- ยง 307 - Location of debtor
- ยง 308 - When security interest or agricultural lien is perfected; continuity of perfection
- ยง 309 - Security interest perfected upon attachment
- ยง 310 - When filing required to perfect security interest or agricultural lien; security interests and agricultural liens to which filing provisions do not apply
- ยง 311 - Perfection of security interests in property subject to certain statutes, regulations, and treaties
- ยง 312 - Perfection of security interests in chattel paper, deposit accounts, documents, goods covered by documents, instruments, investment property, letter-of-cre
- ยง 313 - When possession by or delivery to secured party perfects security interest without filing
- ยง 314 - Perfection by control
- ยง 315 - Secured party's rights on disposition of collateral and in proceeds
- ยง 316 - Continued perfection of security interest following change in governing law
- ยง 317 - Interests that take priority over or take free of security interest or agricultural lien
- ยง 318 - No interest retained in right to payment that is sold; rights and title of seller of account or chattel paper with respect to creditors and purchasers
- ยง 319 - Rights and title of consignee with respect to creditors and purchasers
- ยง 320 - Buyer of goods
- ยง 321 - Licensee of general intangible and lessee of goods in ordinary course of business
- ยง 322 - Priorities among conflicting security interests in and agricultural liens on same collateral
- ยง 323 - Future advances
- ยง 324 - Priority of purchase-money security interests
- ยง 325 - Priority of security interests in transferred collateral
- ยง 326 - Priority of security interests created by new debtor
- ยง 327 - Priority of security interests in deposit account
- ยง 328 - Priority of security interests in investment property
- ยง 329 - Priority of security interests in letter-of-credit right
- ยง 330 - Priority of purchaser of chattel paper or instrument
- ยง 331 - Priority of rights of purchasers of instruments, documents, and securities under other articles; priority of interests in financial assets and security ent
- ยง 332 - Transfer of money; transfer of funds from deposit account
- ยง 333 - Priority of certain liens arising by operation of law
- ยง 334 - Priority of security interests in fixtures and crops
- ยง 335 - Accessions
- ยง 336 - Commingled goods
- ยง 337 - Priority of security interests in goods covered by certificate of title
- ยง 338 - Priority of security interest or agricultural lien perfected by filed financing statement providing certain incorrect information
- ยง 339 - Priority subject to subordination
- ยง 340 - Effectiveness of right of recoupment or set-off against deposit account
- ยง 341 - Bank's rights and duties with respect to deposit account
- ยง 342 - Bank's right to refuse to enter into or disclose existence of control agreement
- ยง 401 - Alienability of debtor's rights
- ยง 402 - Secured party not obligated on contract of debtor or in tort
- ยง 403 - Agreement not to assert defenses against assignee
- ยง 404 - Rights acquired by assignee; claims and defenses against assignee
- ยง 405 - Modification of assigned contract
- ยง 406 - Discharge of account debtor; notification of assignment; identification and proof of assignment; restrictions on assignment of accounts, chattel paper, pay
- ยง 407 - Restrictions on creation or enforcement of security interest in leasehold interest or in lessor's residual interest
- ยง 408 - Restrictions on assignment of promissory notes, health care insurance receivables, and certain general intangibles ineffective
- ยง 409 - Restrictions on assignment of letter-of-credit rights ineffective
- ยง 501 - Filing office
- ยง 502 - Contents of financing statement; record of mortgage as financing statement; time of filing financing statement
- ยง 503 - Name of debtor and secured party
- ยง 504 - Indication of collateral
- ยง 505 - Filing and compliance with other statutes and treaties for consignments, leases, other bailments, and other transactions
- ยง 506 - Effect of errors or omissions
- ยง 507 - Effect of certain events on effectiveness of financing statement
- ยง 508 - Effectiveness of financing statement if new debtor becomes bound by security agreement
- ยง 509 - Persons entitled to file a record
- ยง 510 - Effectiveness of filed record
- ยง 511 - Secured party of record
- ยง 512 - Amendment of financing statement
- ยง 513 - Termination statement
- ยง 514 - Assignment of powers of secured party of record
- ยง 515 - Duration and effectiveness of financing statement; effect of lapsed financing statement
- ยง 516 - What constitutes filing; effectiveness of filing
- ยง 517 - Effect of indexing errors
- ยง 518 - Claim concerning inaccurate or wrongfully filed record
- ยง 519 - Numbering, maintaining, and indexing records; communicating information provided in records
- ยง 520 - Acceptance and refusal to accept record
- ยง 521 - Uniform form of written financing statement and amendment
- ยง 522 - Maintenance and destruction of records
- ยง 523 - Information from filing office; sale or license of records
- ยง 524 - Delay by filing office
- ยง 525 - Fees
- ยง 526 - Filing office rules
- ยง 527 - Duty to report
- ยง 601 - Rights after default; judicial enforcement; consignor or buyer of accounts, chattel paper, payment intangibles, or promissory notes
- ยง 602 - Waiver and variance of rights and duties
- ยง 603 - Agreement on standards concerning rights and duties
- ยง 604 - Procedure if security agreement covers real property or fixtures
- ยง 605 - Unknown debtor or secondary obligor
- ยง 606 - Time of default for agricultural lien
- ยง 607 - Collection and enforcement by secured party
- ยง 608 - Application of proceeds of collection or enforcement; liability for deficiency and right to surplus
- ยง 609 - Secured party's right to take possession after default
- ยง 610 - Disposition of collateral after default
- ยง 611 - Notification before disposition of collateral
- ยง 612 - Timeliness of notification before disposition of collateral
- ยง 613 - Contents and form of notification before disposition of collateral: general
- ยง 614 - Contents and form of notification before disposition of collateral; consumer goods transaction
- ยง 615 - Application of proceeds of disposition; liability for deficiency and right to surplus
- ยง 616 - Explanation of calculation of surplus or deficiency
- ยง 617 - Rights of transferee of collateral
- ยง 618 - Rights and duties of certain secondary obligors
- ยง 619 - Transfer of record or legal title
- ยง 620 - Acceptance of collateral in full or partial satisfaction of obligation; compulsory disposition of collateral
- ยง 621 - Notification of proposal to accept collateral
- ยง 622 - Effect of acceptance of collateral
- ยง 623 - Right to redeem collateral
- ยง 624 - Waiver
- ยง 625 - Remedies for secured party's failure to comply with article
- ยง 626 - Action in which deficiency or surplus is in issue
- ยง 627 - Determination of whether conduct was commercially reasonable
- ยง 628 - Nonliability and limitation on liability of secured party; liability of secondary obligor
- ยง 701 - Effective date
- ยง 702 - Savings clause
- ยง 703 - Security interest perfected before effective date
- ยง 704 - Security interest unperfected before effective date
- ยง 705 - Effectiveness of action taken before effective date
- ยง 706 - When initial financing statement suffices as continuation statement
- ยง 707 - Amendment of preeffective-date financing statement
- ยง 708 - Persons entitled to file initial financing statement or continuation statement
- ยง 709 - Priority