28-2-702. SELLER’S REMEDIES ON DISCOVERY OF BUYER’S INSOLVENCY. (1) Where the seller discovers the buyer to be insolvent he may refuse delivery except for cash including payment for all goods theretofore delivered under the contract, and stop delivery under this chapter (section 28-2-705).
(2) Where the seller discovers that the buyer has received goods on credit while insolvent he may reclaim the goods upon demand made within ten (10) days after the receipt, but if misrepresentation of solvency has been made to the particular seller in writing within three (3) months before delivery the ten (10) day limitation does not apply. Except as provided in this subsection the seller may not base a right to reclaim goods on the buyer’s fraudulent or innocent misrepresentation of solvency or of intent to pay.
(3) The seller’s right to reclaim under subsection (2) is subject to the rights of a buyer in ordinary course or other good faith purchaser or lien creditor under this chapter (section 28-2-403). Successful reclamation of goods excludes all other remedies with respect to them.
History:
[28-2-702, added 1967, ch. 161, sec. 2-702, p. 351.]
Structure Idaho Code
Title 28 - COMMERCIAL TRANSACTIONS
Chapter 2 - UNIFORM COMMERCIAL CODE — SALES
Section 28-2-701 - REMEDIES FOR BREACH OF COLLATERAL CONTRACTS NOT IMPAIRED.
Section 28-2-702 - SELLER’S REMEDIES ON DISCOVERY OF BUYER’S INSOLVENCY.
Section 28-2-703 - SELLER’S REMEDIES IN GENERAL.
Section 28-2-705 - SELLER’S STOPPAGE OF DELIVERY IN TRANSIT OR OTHERWISE.
Section 28-2-706 - SELLER’S RESALE INCLUDING CONTRACT FOR RESALE.
Section 28-2-707 - “PERSON IN THE POSITION OF A SELLER.”
Section 28-2-708 - SELLER’S DAMAGES FOR NONACCEPTANCE OR REPUDIATION.
Section 28-2-709 - ACTION FOR THE PRICE.
Section 28-2-710 - SELLER’S INCIDENTAL DAMAGES.
Section 28-2-711 - BUYER’S REMEDIES IN GENERAL — BUYER’S SECURITY INTEREST IN REJECTED GOODS.
Section 28-2-712 - “COVER” — BUYER’S PROCUREMENT OF SUBSTITUTE GOODS.
Section 28-2-713 - BUYER’S DAMAGES FOR NONDELIVERY OR REPUDIATION.
Section 28-2-714 - BUYER’S DAMAGES FOR BREACH IN REGARD TO ACCEPTED GOODS.
Section 28-2-715 - BUYER’S INCIDENTAL AND CONSEQUENTIAL DAMAGES.
Section 28-2-716 - BUYER’S RIGHT TO SPECIFIC PERFORMANCE OR CLAIM AND DELIVERY.
Section 28-2-717 - DEDUCTION OF DAMAGES FROM THE PRICE.
Section 28-2-718 - LIQUIDATION OR LIMITATION OF DAMAGES — DEPOSITS.
Section 28-2-719 - CONTRACTUAL MODIFICATION OR LIMITATION OF REMEDY.
Section 28-2-720 - EFFECT OF “CANCELLATION” OR “RESCISSION” ON CLAIMS FOR ANTECEDENT BREACH.
Section 28-2-721 - REMEDIES FOR FRAUD.
Section 28-2-722 - WHO CAN SUE THIRD PARTIES FOR INJURY TO GOODS.
Section 28-2-723 - PROOF OF MARKET PRICE — TIME AND PLACE.
Section 28-2-724 - ADMISSIBILITY OF MARKET QUOTATIONS.
Section 28-2-725 - STATUTE OF LIMITATIONS IN CONTRACTS FOR SALE.