(a) Subject to subsections (2) and (3) 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 § 4-2-501 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 (1) (a) vests upon 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.
History. Acts 1961, No. 185, § 2-502; A.S.A. 1947, § 85-2-502; Acts 2001, No. 1439, § 7.
Structure Arkansas Code
Title 4 - Business and Commercial Law
Subtitle 1 - Uniform Commercial Code
§ 4-2-501. Insurable interest in goods — Manner of identification of goods
§ 4-2-502. Buyer's right to goods on seller's repudiation, failure to deliver, or insolvency
§ 4-2-503. Manner of seller's tender of delivery
§ 4-2-505. Seller's shipment under reservation
§ 4-2-506. Rights of financing agency
§ 4-2-507. Effect of seller's tender — Delivery on condition
§ 4-2-508. Cure by seller of improper tender or delivery — Replacement
§ 4-2-509. Risk of loss in the absence of breach
§ 4-2-510. Effect of breach on risk of loss
§ 4-2-511. Tender of payment by buyer — Payment by check
§ 4-2-512. Payment by buyer before inspection
§ 4-2-513. Buyer's right to inspection of goods
§ 4-2-514. When documents deliverable on acceptance — When on payment