Florida Statutes 672.326 – Sale on approval and sale or return; rights of creditors
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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
Terms Used In Florida Statutes 672.326
- Buyer: means a person who buys or contracts to buy goods. See Florida Statutes 672.103
- 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 Florida Statutes 672.106
- Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
- Statute: A law passed by a legislature.
(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.