§ 25-2-502. Buyer's right to goods on seller's repudiation, failure to deliver, or insolvency. - North Carolina Statutes

§25‑2‑502.  Buyer's right to goods on seller's repudiation, failureto deliver, or insolvency.

(1)        Subject tosubsections (2) and (3) of this section and even though the goods have not beenshipped, a buyer who has paid a part or all of the price of goods in which hehas a special property under G.S. 25‑2‑501 may, on making andkeeping good a tender of any unpaid portion of their price, recover them fromthe seller if:

a.         in the case of goodsbought for personal, family, or household purposes, the seller repudiates orfails to deliver as required by the contract; or

b.         in all cases, theseller becomes insolvent within 10 days after receipt of the first installmenton their price.

(2)        The buyer's rightto recover the goods under subdivision (1)a. of this section vests uponacquisition of a special property, even if the seller had not then repudiatedor failed to deliver.

(3)        If theidentification creating his special property has been made by the buyer, heacquires the right to recover the goods only if they conform to the contractfor sale. (1965, c. 700, s. 1; 2000‑169, s. 11.)