§ 6A-2-402 - Rights of seller's creditors against sold goods. - Rhode Island Statutes

SECTION 6A-2-402

   § 6A-2-402  Rights of seller's creditorsagainst sold goods. – (1) Except as provided in subsections (2) and (3), rights of unsecuredcreditors of the seller with respect to goods which have been identified to acontract for sale are subject to the buyer's rights to recover the goods underthis chapter (§§ 6A-2-502 and 6A-2-716).

   (2) A creditor of the seller may treat a sale or anidentification of goods to a contract for sale as void if as against him or hera retention of possession by the seller is fraudulent under any rule of law ofthe state where the goods are situated, except that retention of possession ingood faith and current course of trade by a merchant seller for a commerciallyreasonable time after a sale or identification is not fraudulent.

   (3) Nothing in this chapter shall be deemed to impair therights of creditors of the seller,

   (a) Under the provisions of the chapter on securedtransactions (chapter 9); or

   (b) Where identification to the contract or delivery is madenot in current course of trade but in satisfaction of or as security for apreexisting claim for money, security, or the like, and is made undercircumstances which under any rule of law of the state where the goods aresituated would apart from this chapter constitute the transaction a fraudulenttransfer or voidable preference.