47-2502. Buyer's right to goods on seller's insolvency
A. Subject to subsections B and C 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 has a special property under the provisions of section 47-2501 may on making and keeping good a tender of any unpaid portion of their price recover them from the seller if:
1. 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
2. In all cases, the seller becomes insolvent within ten days after receipt of the first installment on their price.
B. The buyer's right to recover the goods under subsection A, paragraph 1 of this section vests on acquisition of a special property, even if the seller had not then repudiated or failed to deliver.
C. If the identification creating his special property has been made by the buyer he acquires the right to recover the goods only if they conform to the contract for sale.
Section: Previous 47-2326 47-2327 47-2328 47-2401 47-2402 47-2403 47-2501 47-2502 47-2503 47-2504 47-2505 47-2506 47-2507 47-2508 47-2509 NextLast modified: October 13, 2016