Colorado § 4-2-326 Sale on approval and sale or return - rights of creditors

Colorado Statutes

§ 4-2-326 — Sale on approval and sale or return - rights of creditors

Colorado·Title 04 Uniform·Art. Sales

(1)Unless otherwise agreed, if delivered goods may be returned by the buyer even though they conform to the contract, the transaction is:

(a)A sale on approval if the goods are delivered primarily for use; and

(b)A sale or return if the goods are delivered primarily for resale.

(2)Goods held on approval are not subject to the claims of the buyer's creditors until acceptance; goods held on sale or return are subject to such claims while in the buyer's possession.

(3)Any or return term of a contract for sale is to be treated as a separate contract for sale within the statute of frauds section of this article (section 4-2-201) and as contradicting the sale aspect of the contract within the provisions of this article on parol or extrinsic evidence (section 4-2-202).

(4)The pr

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(1) Unless
otherwise agreed, if delivered goods may be returned by the buyer even though
they conform to the contract, the transaction is:

(a) A sale on approval if the goods are delivered primarily for use; and

(b) A sale or return if the goods are delivered primarily for resale.

(2) Goods held on approval are not subject to the claims of the buyer's
creditors until acceptance; goods held on sale or return are subject to such claims
while in the buyer's possession.

(3) Any or return term of a contract for sale is to be treated as a separate
contract for sale within the statute of frauds section of this article (section 4-2-201)
and as contradicting the sale aspect of the contract within the provisions of this
article on parol or extrinsic evidence (section 4-2-202).

(4) The provisions of this section shall not apply to the placement of works of
fine art on consignment, which shall be governed by the provisions of part 1 of
article 15 of title 6.

Colorado § 4-2-326 (Sale on approval and sale or return - rights of creditors) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.

Legislative History

Source: L. 65: p. 1317, � 1. C.R.S. 1963: � 155-2-326. L. 82: (5) added, p. 231, � 2, effective March 25. L. 2001: Entire section amended, p. 1436, � 20, effective July 1. L. 2017: (4) amended, (HB 17-1241), ch. 163, p. 605, � 5, effective August 9.