8.2-502 - Buyer's right to goods on seller's repudiation, failure to deliver, or insolvency. - Virginia Statutes

§ 8.2-502. Buyer's right to goods on seller's repudiation, failure todeliver, or insolvency.

(1) Subject to subsections (2) and (3) and even though the goods have notbeen shipped a buyer who has paid a part or all of the price of goods inwhich he has a special property under the provisions of the immediatelypreceding section (§ 8.2-501) may on making and keeping good a tender of anyunpaid portion of their price recover them from the seller if:

(a) 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

(b) in all cases, the seller becomes insolvent within ten days after receiptof the first installment on their price.

(2) The buyer's right to recover the goods under subsection (1) (a) vestsupon acquisition of a special property, even if the seller had not thenrepudiated or failed to deliver.

(3) If the identification creating his special property has been made by thebuyer he acquires the right to recover the goods only if they conform to thecontract for sale.

(1964, c. 219; 2000, c. 1007.)