554.2502  Buyer's right to goods on seller's insolvency.

1.  Subject to subsection 2 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 the seller becomes insolvent within ten days after receipt of the first installment on their price.

2.  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.

Section History: Early form

  [C24, 27, 31, 35, 39, § 9946-9948; C46, 50, 54, 58, 62, § 554.18-554.20; C66, 71, 73, 75, 77, 79, 81, § 554.2502]

Internal References

  Referred to in § 554.2402, 554.2711

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