8.2-510 - Effect of breach on risk of loss. - Virginia Statutes

§ 8.2-510. Effect of breach on risk of loss.

(1) Where a tender or delivery of goods so fails to conform to the contractas to give a right of rejection the risk of their loss remains on the selleruntil cure or acceptance.

(2) Where the buyer rightfully revokes acceptance he may to the extent of anydeficiency in his effective insurance coverage treat the risk of loss ashaving rested on the seller from the beginning.

(3) Where the buyer as to conforming goods already identified to the contractfor sale repudiates or is otherwise in breach before risk of their loss haspassed to him, the seller may to the extent of any deficiency in hiseffective insurance coverage treat the risk of loss as resting on the buyerfor a commercially reasonable time.

(1964, c. 219.)