Idaho § 28-2-326 SALE ON APPROVAL AND SALE OR RETURN — RIGHTS OF CREDITORS

Idaho Statutes

§ 28-2-326 — SALE ON APPROVAL AND SALE OR RETURN — RIGHTS OF CREDITORS

Idaho·Title 28 COMMERCIAL TRANSACTIONS·Part 3. GENERAL OBLIGATION AND CONSTRUCTION OF CONTRACT·Ch. 2 UNIFORM COMMERCIAL CODE — 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 chapter (section 28-2-201) and as contradicting the sale aspect of the contract within the provisions of this chapter on parol or extrinsic evidence (section 28-2-202).

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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 chapter (section 28-2-201) and as contradicting the sale aspect of the contract within the provisions of this chapter on parol or extrinsic evidence (section 28-2-202).

Idaho § 28-2-326 (SALE ON APPROVAL AND SALE OR RETURN — RIGHTS OF CREDITORS) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.