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Current as of January 01, 2024 | Updated by FindLaw Staff
(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.
Cite this article: FindLaw.com - Vermont Statutes Title 9 A. Uniform Commercial Code, § 2-502. Buyer's right to goods on seller's repudiation, failure to deliver, or insolvency - last updated January 01, 2024 | https://codes.findlaw.com/vt/title-9-a-uniform-commercial-code/vt-st-tit-9a-sect-2-502/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature or via Westlaw before relying on it for your legal needs.
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