7-2-401
Section 7-2-401 Passing of title; reservation for security; limited application of this
section. Each provision of this article with regard to the rights, obligations and
remedies of the seller, the buyer, purchasers or other third parties applies irrespective
of title to the goods except where the provision refers to such title. Insofar as situations
are not covered by the other provisions of this article and matters concerning title become
material the following rules apply: (1) Title to goods cannot pass under a contract for sale
prior to their identification to the contract (Section 7-2-501), and unless otherwise
explicitly agreed the buyer acquires by their identification a special property as limited
by this title. Any retention or reservation by the seller of the title (property) in goods
shipped or delivered to the buyer is limited in effect to a reservation of a security interest.
Subject to these provisions and to the provisions of the article on secured transactions (Article...

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7-1-201
Section 7-1-201 General definitions. (a) [Reserved]. (b) Subject to additional definitions
contained in the subsequent articles of this title which are applicable to specific articles
or parts thereof, and unless the context otherwise requires, in this title: (1) "Action,"
in the sense of a judicial proceeding, includes recoupment, counterclaim, set-off, suit in
equity, and any other proceeding in which rights are determined. (2) "Aggrieved party"
means a party entitled to pursue a remedy. (3) "Agreement," as distinguished from
"contract," means the bargain of the parties in fact, as found in their language
or inferred from other circumstances, including course of performance, course of dealing,
or usage of trade as provided in Section 7-1-303. (4) "Bank" means a person
engaged in the business of banking and includes a savings bank, savings and loan association,
credit union, and trust company. (5) "Bearer" means a person in possession of a
negotiable instrument, document of title, or...
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7-2-509
Section 7-2-509 Risk of loss in the absence of breach. (1) Where the contract requires
or authorizes the seller to ship the goods by carrier: (a) If it does not require him to deliver
them at a particular destination, the risk of loss passes to the buyer when the goods are
duly delivered to the carrier even though the shipment is under reservation (Section
7-2-505); but (b) If it does require him to deliver them at a particular destination and the
goods are there duly tendered while in the possession of the carrier, the risk of loss passes
to the buyer when the goods are there duly so tendered as to enable the buyer to take delivery.
(2) Where the goods are held by a bailee to be delivered without being moved, the risk of
loss passes to the buyer: (a) On his receipt of possession or control of a negotiable document
of title covering the goods; or (b) On acknowledgment by the bailee of the buyer's right to
possession of the goods; or (c) After his receipt of possession or control of a...
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7-2-503
Section 7-2-503 Manner of seller's tender of delivery. (1) Tender of delivery requires
that the seller put and hold conforming goods at the buyer's disposition and give the buyer
any notification reasonably necessary to enable him to take delivery. The manner, time and
place for tender are determined by the agreement and this article, and in particular: (a)
Tender must be at a reasonable hour, and if it is of goods they must be kept available for
the period reasonably necessary to enable the buyer to take possession; but (b) Unless otherwise
agreed the buyer must furnish facilities reasonably suited to the receipt of the goods. (2)
Where the case is within Section 7-2-504 respecting shipment, tender requires that
the seller comply with its provisions. (3) Where the seller is required to deliver at a particular
destination, tender requires that he comply with subsection (1) and also in any appropriate
case tender documents as described in subsections (4) and (5) of this section. (4)...

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7-2-505
Section 7-2-505 Seller's shipment under reservation. (1) Where the seller has identified
goods to the contract by or before shipment: (a) His procurement of a negotiable bill of lading
to his own order or otherwise reserves in him a security interest in the goods. His procurement
of the bill to the order of a financing agency or of the buyer indicates in addition only
the seller's expectation of transferring that interest to the person named. (b) A nonnegotiable
bill of lading to himself or his nominee reserves possession of the goods as security but
except in a case of conditional delivery (subsection (2) of Section 7-2-507) a nonnegotiable
bill of lading naming the buyer as consignee reserves no security interest even though the
seller retains possession or control of the bill of lading. (2) When shipment by the seller
with reservation of a security interest is in violation of the contract for sale, it constitutes
an improper contract for transportation within Section 7-2-504, but...
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7-2-310
Section 7-2-310 Open time for payment or running of credit; authority to ship under
reservation. Unless otherwise agreed: (a) Payment is due at the time and place at which the
buyer is to receive the goods even though the place of shipment is the place of delivery;
and (b) If the seller is authorized to send the goods he may ship them under reservation,
and may tender the documents of title, but the buyer may inspect the goods after their arrival
before payment is due unless such inspection is inconsistent with the terms of the contract
(Section 7-2-513); and (c) If delivery is authorized and made by way of documents of
title otherwise than by subsection (b) then payment is due regardless of where the goods are
to be received (i) at the time and place at which the buyer is to receive delivery of the
tangible documents or (ii) at the time the buyer is to receive delivery of the electronic
documents and at the seller's place of business or, if none, the seller's residence; and (d)
Where...
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7-2A-103
Section 7-2A-103 Definitions and index of definitions. (1) In this article unless the
context otherwise requires: (a) "Buyer in ordinary course of business" means a person
who in good faith and without knowledge that the sale to him or her is in violation of the
ownership rights or security interest or leasehold interest of a third party in the goods,
buys in ordinary course from a person in the business of selling goods of that kind but does
not include a pawnbroker. "Buying" may be for cash or by exchange of other property
or on secured or unsecured credit and includes receiving goods or documents of title under
a pre-existing contract for sale but does not include a transfer in bulk or as security for
or in total or partial satisfaction of a money debt. (b) "Cancellation" occurs when
either party puts an end to the lease contract for default by the other party. (c) "Commercial
unit" means such a unit of goods as by commercial usage is a single whole for purposes
of lease and...
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7-9A-102
Section 7-9A-102 Definitions and index of definitions. (a) Article 9A definitions. In
this article: (1) "Accession" means goods that are physically united with other
goods in such a manner that the identity of the original goods is not lost. (2) "Account,"
except as used in "account for," means a right to payment of a monetary obligation,
whether or not earned by performance, (i) for property that has been or is to be sold, leased,
licensed, assigned, or otherwise disposed of, (ii) for services rendered or to be rendered,
(iii) for a policy of insurance issued or to be issued, (iv) for a secondary obligation incurred
or to be incurred, (v) for energy provided or to be provided, (vi) for the use or hire of
a vessel under a charter or other contract, (vii) arising out of the use of a credit or charge
card or information contained on or for use with the card, or (viii) as winnings in a lottery
or other game of chance operated or sponsored by a State, governmental unit of a State, or...

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7-2-504
Section 7-2-504 Shipment by seller. Where the seller is required or authorized to send
the goods to the buyer and the contract does not require him to deliver them at a particular
destination, then unless otherwise agreed he must: (a) Put the goods in the possession of
such a carrier and make such a contract for their transportation as may be reasonable having
regard to the nature of the goods and other circumstances of the case; and (b) Obtain and
promptly deliver or tender in due form any document necessary to enable the buyer to obtain
possession of the goods or otherwise required by the agreement or by usage of trade; and (c)
Promptly notify the buyer of the shipment. Failure to notify the buyer under paragraph (c)
or to make a proper contract under paragraph (a) is a ground for rejection only if material
delay or loss ensues. (Acts 1965, No. 549, p. 811.)...
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7-2-327
Section 7-2-327 Special incidents of sale on approval and sale or return. (1) Under
a sale on approval unless otherwise agreed: (a) Although the goods are identified to the contract
the risk of loss and the title do not pass to the buyer until acceptance; and (b) Use of the
goods consistent with the purpose of trial is not acceptance but failure seasonably to notify
the seller of election to return the goods is acceptance, and if the goods conform to the
contract acceptance of any part is acceptance of the whole; and (c) After due notification
of election to return, the return is at the seller's risk and expense, but a merchant buyer
must follow any reasonable instructions. (2) Under a sale or return unless otherwise agreed:
(a) The option to return extends to the whole or any commercial unit of the goods while in
substantially their original condition, but must be exercised seasonably; and (b) The return
is at the buyer's risk and expense. (Acts 1965, No. 549, p. 811.)...
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