Montana Code 30-2-502. Buyer’s right to goods on seller’s insolvency
30-2-502. Buyer’s right to goods on seller‘s insolvency. (1) Subject to subsections (2) and (3) and even though the goods have not been shipped a buyer who has paid a part or all of the price of goods in which the buyer has a special property under the provisions of the immediately preceding section may on making and keeping good a tender of any unpaid portion of their price recover them from the seller if:
Terms Used In Montana Code 30-2-502
- Buyer: means a person who buys or contracts to buy goods. See Montana Code 30-2-103
- Contract: A legal written agreement that becomes binding when signed.
- Contract for sale: includes both a present sale of goods and a contract to sell goods at a future time. See Montana Code 30-2-106
- Property: means real and personal property. See Montana Code 1-1-205
- Seller: means a person who sells or contracts to sell goods. See Montana Code 30-2-103
(a)in the case of goods bought for personal, family, or household purposes, the seller repudiates or fails to deliver as required by the contract; or
(b)in other cases, the seller becomes insolvent within 10 days after receipt of the first installment on their price.
(2)The buyer’s right to recover the goods under subsection (1)(a) vests upon acquisition of a special property, even if the seller had not then repudiated or failed to deliver.
(3)If the identification creating the buyer’s special property has been made by the buyer, the buyer acquires the right to recover the goods only if they conform to the contract for sale.