§ 2402. Rights of creditors of seller against sold goods
Purdon's Pennsylvania Statutes and Consolidated StatutesTitle 13 Pa.C.S.A. Commercial Code
13 Pa.C.S.A. § 2402
§ 2402. Rights of creditors of seller against sold goods
(a) Priority of buyer over unsecured creditors.--Except as provided in subsections (b) and (c), rights of unsecured creditors of the seller with respect to goods which have been identified to a contract for sale are subject to the rights of the buyer to recover the goods under this division (section 2502 (relating to right of buyer to goods on insolvency of seller) and section 2716 (relating to right of buyer to specific performance or replevin)).
(b) Right to void sale upon fraudulent retention of goods.--A creditor of the seller may treat a sale or an identification of goods to a contract for sale as void if as against him a retention of possession by the seller is fraudulent under any rule of law of the state where the goods are situated, except that retention of possession in good faith and current course of trade by a merchant-seller for a commercially reasonable time after a sale or identification is not fraudulent.
(2) where identification to the contract or delivery is made not in current course of trade but in satisfaction of or as security for a pre-existing claim for money, security or the like and is made under circumstances which under any rule of law of the state where the goods are situated would apart from this division constitute the transaction a fraudulent transfer or voidable preference.
Credits
1979, Nov. 1, P.L. 255, No. 86, § 1, effective Jan. 1, 1980.
13 Pa.C.S.A. § 2402, PA ST 13 Pa.C.S.A. § 2402
Current through Act 11 of the 2024 Regular Session. Some statute sections may be more current, see credits for details.
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