7-2A-308
Section 7-2A-308 Special rights of creditors. (1) A creditor of a lessor in possession of goods
subject to a lease contract may treat the lease contract as void if as against the creditor
retention of possession by the lessor is fraudulent under any statute or rule of law, but
retention of possession in good faith and current course of trade by the lessor for a commercially
reasonable time after the lease contract becomes enforceable is not fraudulent. (2) Nothing
in this article impairs the rights of creditors of a lessor if the lease contract is made
under circumstances which under any statute or rule of law apart from this article would constitute
the transaction a fraudulent transfer or voidable preference. (3) A creditor of a seller may
treat a sale or an identification of goods to a contract for sale as void if as against the
creditor retention of possession by the seller is fraudulent under any statute or rule of
law, but retention of possession of the goods pursuant to a lease...
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7-9A-320
Section 7-9A-320 Buyer of goods; Alabama Farmers Credit Protection Fund. (a) Buyer in ordinary
course of business. Except as otherwise provided in subsection (e), a buyer in ordinary course
of business, other than a person buying farm products from a person engaged in farming operations,
takes free of a security interest created by the buyer's seller, even if the security interest
is perfected and the buyer knows of its existence. (b) Buyer of consumer goods. Except as
otherwise provided in subsection (e), a buyer of goods from a person who used or bought the
goods for use primarily for personal, family, or household purposes takes free of a security
interest, even if perfected, if the buyer buys: (1) without knowledge of the security interest;
(2) for value; (3) primarily for the buyer's personal, family, or household purposes; and
(4) before the filing of a financing statement covering the goods. (c) Effectiveness of filing
for subsection (b). To the extent that it affects the...
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34-23-6
Section 34-23-6 Bankruptcy sales, auction sales, etc., of drugs and medicines. In the event
of any sale in bankruptcy, at public auction or any other sale except in the normal course
of business, the seller shall give written notice of such sale to the board at least one week
prior to the day of sale, and a complete and accurate report must be made in writing to the
board by the proposed seller within 10 days after such sale showing the names and addresses
of the parties to whom any narcotics, exempt narcotics, or dangerous drugs have been sold
together with an itemized inventory thereof. This section shall not apply to the bona fide
sale of a pharmacy as a business when the board has been notified of such proposed sale. (Acts
1966, Ex. Sess., No. 205, p. 231, §30.)...
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34-27-81
Section 34-27-81 Definitions. As used in this article, the following words shall have the following
meanings: (1) AGENCY AGREEMENT. A written agreement between a broker and a client which creates
a fiduciary relationship between the broker and a principal, who is commonly referred to as
a client. (2) BROKER. Any person licensed as a real estate broker pursuant to Articles 1 and
2 of this chapter. (3) BROKERAGE AGREEMENT. A specific written agreement between a brokerage
firm and a consumer which establishes a brokerage relationship. The brokerage agreement shall
contain a statement of the terms and conditions of the brokerage services to be provided.
(4) BROKERAGE SERVICE. Any service, except for rental or property management services, provided
by a broker or licensee to another person and includes all activities for which a real estate
license is required under Articles 1 and 2 of this chapter. (5) CONSUMER. A person who obtains
information, advice, or services concerning real estate...
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40-18-86
Section 40-18-86 Sale or transfer of real property and associated tangible property by nonresidents.
(a) As used in this section, the term nonresident of Alabama shall include individuals, trusts,
partnerships, corporations, and unincorporated organizations. Any seller or transferor who
meets all of the following conditions and who provides the buyer or transferee with an affidavit
signed under oath swearing or affirming that all of the following conditions are met will
be deemed a resident for purposes of this section: (1) The seller or transferor has filed
Alabama income tax returns or appropriate extensions have been received for the two income
tax years immediately preceding the year of sale. (2) The seller or transferor is in business
in Alabama and will continue substantially the same business in Alabama after the sale or
the seller or transferor has real property remaining in the state at the time of closing of
equal or greater value than the withholding tax liability as...
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7-2-103
Section 7-2-103 Definitions and index of definitions. (1) In this article unless the context
otherwise requires: (a) "Buyer" means a person who buys or contracts to buy goods.
(b) "Good faith" in the case of a merchant means honesty in fact and the observance
of reasonable commercial standards of fair dealing in the trade. (c) "Receipt" of
goods means taking physical possession of them. (d) "Seller" means a person who
sells or contracts to sell goods. (2) Other definitions applying to this article or to specified
parts thereof and the sections in which they appear are: "Acceptance." Section 7-2-606.
"Banker's credit." Section 7-2-325. "Between merchants." Section 7-2-104.
"Cancellation." Section 7-2-106 (4). "Commercial unit." Section 7-2-105.
"Confirmed credit." Section 7-2-325. "Conforming to contract." Section
7-2-106. "Contract for sale." Section 7-2-106. "Cover." Section 7-2-712.
"Entrusting." Section 7-2-403. "Financing agency." Section 7-2-104. "Future
goods." Section 7-2-105....
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7-2-613
Section 7-2-613 Casualty to identified goods. Where the contract requires for its performance
goods identified when the contract is made, and the goods suffer casualty without fault of
either party before the risk of loss passes to the buyer, or in a proper case under a "no
arrival, no sale" term (Section 7-2-324) then: (a) If the loss is total the contract
is avoided; and (b) If the loss is partial or the goods have so deteriorated as no longer
to conform to the contract the buyer may nevertheless demand inspection and at his option
either treat the contract as avoided or accept the goods with due allowance from the contract
price for the deterioration or the deficiency in quantity but without further right against
the seller. (Acts 1965, No. 549, p. 811.)...
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45-2-22.06
Section 45-2-22.06 Conditions of amendment, modification, termination, etc., of agreement.
(a) Notwithstanding any agreement and except as otherwise provided for in this part, a supplier
shall not: Amend or modify an agreement; cause a wholesaler to resign from an agreement; or
cancel, terminate, fail to renew, or refuse to continue under an agreement, unless the supplier
has complied with all of the following: (1) Has satisfied the applicable notice requirements
of subsection (c). (2) Has acted in good faith. (3) Has good cause for the amendment, modification,
cancellation, termination, nonrenewal, discontinuance, or forced resignation. (b) For each
amendment, modification, termination, cancellation, nonrenewal, or discontinuance, the supplier
shall have the burden of proving that it has acted in good faith, that the notice requirements
under this section have been complied with, and that there was good cause for the amendment,
modification, termination, cancellation, nonrenewal, or...
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45-49-23.05
Section 45-49-23.05 Conditions of amendment, modification, termination, etc., of agreement.
(a) Notwithstanding any agreement and except as otherwise provided for in this part, a supplier
shall not: amend or modify an agreement; cause a wholesaler to resign from an agreement; or
cancel, terminate, fail to renew, or refuse to continue under an agreement, unless the supplier
has complied with all of the following: (1) Has satisfied the applicable notice requirements
of subsection (c). (2) Has acted in good faith. (3) Has good cause for the amendment, modification,
cancellation, termination, nonrenewal, discontinuance, or forced resignation. (b) For each
amendment, modification, termination, cancellation, nonrenewal, or discontinuance, the supplier
shall have the burden of proving that it has acted in good faith, that the notice requirements
under this section have been complied with, and that there was good cause for the amendment,
modification, termination, cancellation, nonrenewal, or...
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5-19-5
Section 5-19-5 Acceptance of negotiable instruments as evidence of consumer debt. In a consumer
credit sale, the seller may not take as evidence of the obligation of the buyer, a negotiable
instrument other than (1) a check; or (2) a promise or order containing a statement, required
by applicable statutory or administrative law, to the effect that the rights of a holder or
transferee are subject to claims or defenses that the issuer could assert against the original
payee. A holder is not a holder in due course if the holder takes a negotiable instrument
with notice that it is issued in violation of this section. A holder in due course is not
subject to the liabilities prescribed in this chapter. (Acts 1971, No. 2052, p. 3290, §4;
Acts 1995, No. 95-668, p. 1381, §4; Acts 1996, No. 96-576, p. 887, §2.)...
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