Goods held on approval are not subject to the claims of the buyer's creditors until acceptance; goods held on sale or return are subject to such claims while in the buyer's possession.
Any “or return” term of a contract for sale is to be treated as a separate contract for sale within the Statute of Frauds section of this chapter (§ 47-2-201) and as contradicting the sale aspect of the contract within the provisions of this chapter on parol or extrinsic evidence (§ 47-2-202).
Structure 2021 Tennessee Code
Title 47 - Commercial Instruments and Transactions
Part 3 - General Obligation and Construction of Contract
§ 47-2-301. General Obligation of Parties
§ 47-2-303. Allocation or Division of Risks
§ 47-2-307. Delivery in Single Lot or Several Lots
§ 47-2-308. Absence of Specified Place for Delivery
§ 47-2-310. Open Time for Payment or Running of Credit — Authority to Ship Under Reservation
§ 47-2-312. Warranty of Title and Against Infringement — Buyer's Obligation Against Infringement
§ 47-2-313. Express Warranties by Affirmation, Promise, Description, Sample
§ 47-2-314. Implied Warranty — Merchantability — Usage of Trade
§ 47-2-315. Implied Warranty — Fitness for Particular Purpose — Exception for Certain Livestock
§ 47-2-316. Exclusion or Modification of Warranties
§ 47-2-317. Cumulation and Conflict of Warranties Express or Implied
§ 47-2-318. Third Party Beneficiaries of Warranties Express or Implied
§ 47-2-319. o.b. and f.a.s. Terms
§ 47-2-320. i.f. and C. & F. Terms
§ 47-2-323. Form of Bill of Lading Required in Overseas Shipment — “overseas.”
§ 47-2-324. “No Arrival, No Sale” Term
§ 47-2-326. Sale on Approval and Sale or Return — Consignment Sales and Rights of Creditors
§ 47-2-327. Special Incidents of Sale on Approval and Sale or Return