There is a newer version
of
this Section
2020 Tennessee Code
Title 47 - Commercial Instruments and Transactions
Chapter 2 - Sales
Part 4 - Title, Creditors and Good Faith Purchasers
§ 47-2-402. Rights of Seller's Creditors Against Sold Goods
Universal Citation: TN Code § 47-2-402 (2020)
- Except as provided in subsections (2) and (3), rights of unsecured creditors of the seller with respect to goods which have been identified to a contract for sale are subject to the buyer's rights to recover the goods under this chapter (§§ 47-2-502 and 47-2-716).
- 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.
- Nothing in this chapter shall be deemed to impair the rights of creditors of the seller:
- under the provisions of the chapter on Secured Transactions (chapter 9 of this title); or
- where identification to the contract or delivery is made not in current course of trade but in satisfaction of or as security for a preexisting 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 chapter constitute the transaction a fraudulent transfer or voidable preference.
Disclaimer: These codes may not be the most recent version. Tennessee may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
This site is protected by reCAPTCHA and the Google
Privacy Policy and
Terms of Service apply.
