Maine Revised Statutes
Part 7: REMEDIES
11 §2-702. Seller's remedies on discovery of buyer's insolvency

§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 Article (section 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 10 days after the receipt, but if misrepresentation of solvency has been made to the particular seller in writing within 3 months before delivery the 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 under this Article (section 2‑403). Successful reclamation of goods excludes all other remedies with respect to them.

Structure Maine Revised Statutes

Maine Revised Statutes

TITLE 11: UNIFORM COMMERCIAL CODE

Article 2: SALES

Part 7: REMEDIES

11 §2-701. Remedies for breach of collateral contracts not impaired

11 §2-702. Seller's remedies on discovery of buyer's insolvency

11 §2-703. Seller's remedies in general

11 §2-704. Seller's right to identify goods to the contract notwithstanding breach or to salvage unfinished goods

11 §2-705. Seller's stoppage of delivery in transit or otherwise

11 §2-706. Seller's resale including contract for resale

11 §2-707. "Person in the position of a seller"

11 §2-708. Seller's damages for nonacceptance or repudiation

11 §2-709. Action for the price

11 §2-710. Seller's incidental damages

11 §2-711. Buyer's remedies in general; buyer's security interest in rejected goods

11 §2-712. "Cover"; buyer's procurement of substitute goods

11 §2-713. Buyer's damages for nondelivery or repudiation

11 §2-714. Buyer's damages for breach in regard to accepted goods

11 §2-715. Buyer's incidental and consequential damages

11 §2-716. Buyer's right to specific performance or replevin

11 §2-717. Deduction of damages from price

11 §2-718. Liquidation or limitation of damages; deposits

11 §2-719. Contractual modification or limitation of remedy

11 §2-720. Effect of "cancellation" or "rescission" on claims for antecedent breach

11 §2-721. Remedies for fraud

11 §2-722. Who can sue third parties for injury to goods

11 §2-723. Proof of market price; time and place

11 §2-724. Admissibility of market quotations

11 §2-725. Statute of limitations in contracts for sale