2006 Kentucky Revised Statutes - Article 2 Sales

Part 1. Short Title -- General Construction and Subject Matter

• .101   Short title.
• .102   Scope -- Certain security and other transactions excluded from this article.
• .103   Definitions and index of definitions.
• .104   Definitions: "merchant" -- "Between merchants" -- "Financing agency."
• .105   Definitions: transferability -- "Goods" -- "Future" goods -- "Lot" -- "Commercial unit."
• .106   Definitions: "contract" -- "Agreement" -- "Contract for sale" -- "Sale" -- "Present sale" -- "Conforming" to contract -- "Termination" -- "Cancellation."
• .107   Goods to be severed from realty -- Recording.

Part 2. Form, Formation and Readjustment of Contract

• .201   Formal requirements -- Statute of frauds.
• .202   Final written expression -- Parol or extrinsic evidence.
• .203   Seals inoperative.
• .204   Formation in general.
• .205   Firm offers.
• .206   Offer and acceptance in formation of contract.
• .207   Additional terms in acceptance or confirmation.
• .208   Repealed, 2006.
• .209   Modification, rescission and waiver.
• .210   Delegation of performance -- Assignment of rights.

Part 3. General Obligation and Construction of Contract

• .301   General obligations of parties.
• .302   Unconscionable contract or clause.
• .303   Allocation or division of risks.
• .304   Price payable in money, goods, realty, or otherwise.
• .305   Open price term.
• .306   Output, requirements and exclusive dealings.
• .307   Delivery in single lot or several lots.
• .308   Absence of specified place for delivery.
• .309   Absence of specific time provisions -- Notice of termination.
• .310   Open time for payment or running of credit -- Authority to ship under reservation.
• .311   Options and cooperation respecting performance.
• .312   Warranty of title and against infringement -- Buyer's obligation against infringement.
• .313   Express warranties by affirmation, promise, description, sample.
• .314   Implied warranty: merchantability -- Usage of trade.
• .315   Implied warranty: fitness for particular purpose.
• .316   Exclusion or modification of warranties.
• .317   Cumulation and conflict of warranties express or implied.
• .318   Third party beneficiaries of warranties express or implied.
• .319   F.O.B. and F.A.S. terms.
• .320   C.I.F. and C. & F. terms.
• .321   C.I.F. or C. & F.: "net landed weights" -- "Payment on arrival" -- Warranty of condition on arrival.
• .322   Delivery "ex-ship."
• .323   Form of bill of lading required in overseas shipment -- "Overseas."
• .324   "No arrival, no sale" term.
• .325   "Letter of credit" term -- "Confirmed credit."
• .326   Sale on approval and sale or return -- Rights of creditors.
• .327   Special incidents of sale on approval and sale or return.
• .328   Sale by auction.

Part 4. Title, Creditors and Good Faith Purchasers

• .401   Passing of title -- Reservation for security -- Limited application of this section.
• .402   Rights of seller's creditors against sold goods.
• .403   Power to transfer -- Good faith purchase of goods -- "Entrusting."

Part 5. Performance

• .501   Insurable interest in goods -- Manner of identification of goods.
• .502   Buyer's right to goods on seller's repudiation, failure to deliver, or insolvency.
• .503   Manner of seller's tender of delivery.
• .504   Shipment by seller.
• .505   Seller's shipment under reservation.
• .506   Rights of financing agency.
• .507   Effect of seller's tender -- Delivery on condition.
• .508   Cure by seller of improper tender or delivery -- Replacement.
• .509   Risk of loss in the absence of breach.
• .510   Effect of breach on risk of loss.
• .511   Tender of payment by buyer -- Payment by check.
• .512   Payment by buyer before inspection.
• .513   Buyer's right to inspection of goods.
• .514   When documents deliverable on acceptance -- When on payment.
• .515   Preserving evidence of goods in dispute.

Part 6. Breach, Repudiation and Excuse

• .601   Buyer's rights on improper delivery.
• .602   Manner and effect of rightful rejection.
• .603   Merchant buyer's duties as to rightfully rejected goods.
• .604   Buyer's options as to salvage of rightfully rejected goods.
• .605   Waiver of buyer's objections by failure to particularize.
• .606   What constitutes acceptance of goods.
• .607   Effect of acceptance -- Notice of breach -- Burden of establishing breach after acceptance -- Notice of claim or litigation to person answerable over.
• .608   Revocation of acceptance in whole or in part.
• .609   Right to adequate assurance of performance.
• .610   Anticipatory repudiation.
• .611   Retraction of anticipatory repudiation.
• .612   "Installment contract" -- Breach.
• .613   Casualty to identified goods.
• .614   Substituted performance.
• .615   Excuse by failure of presupposed conditions.
• .616   Procedure on notice claiming excuse.

Part 7. Remedies

• .701   Remedies for breach of collateral contracts not impaired.
• .702   Seller's remedies on discovery of buyer's insolvency.
• .703   Seller's remedies in general.
• .704   Seller's right to identify goods to the contract notwithstanding breach or to salvage unfinished goods.
• .705   Seller's stoppage of delivery in transit or otherwise.
• .706   Seller's resale including contract for resale.
• .707   "Person in the position of a seller."
• .708   Seller's damages for nonacceptance or repudiation.
• .709   Action for the price.
• .710   Seller's incidental damages.
• .711   Buyer's remedies in general -- Buyer's security interest in rejected goods.
• .712   "Cover" -- Buyer's procurement of substitute goods.
• .713   Buyer's damages for nondelivery or repudiation.
• .714   Buyer's damages for breach in regard to accepted goods.
• .715   Buyer's incidental and consequential damages.
• .716   Buyer's right to specific performance or replevin.
• .717   Deduction of damages from the price.
• .718   Liquidation or limitation of damages -- Deposits.
• .719   Contractual modification or limitation of remedy.
• .720   Effect of "cancellation" or "rescission" on claims for antecedent breach.
• .721   Remedies for fraud.
• .722   Who can sue third parties for injury to goods.
• .723   Proof of market price: time and place.
• .724   Admissibility of market quotations.
• .725   Statute of limitations in contracts for sale.