LRC Seal

Kentucky Revised Statutes

List by Section

Statutes Last Updated January 20, 2010

Includes Enactments through the 2009 Extraordinary Session
This page was produced on 1/21/2010 at 8:36:00 AM

Terms & Conditions | PDF Viewer

KRS Chapter 355.02

Part 1. Short Title -- General Construction

  • .101   Short title.

  • .102   Scope -- Certain security and other transactions excluded from this article.

  • .103   Definitions and index of definitions.

  • .104   Definitions: "merchant" -- "Between merchants" -- "Financing agency."

  • .105   Definitions: transferability -- "Goods" -- "Future" goods -- "Lot" -- "Commercial unit."

  • .106   Definitions: "contract" -- "Agreement" -- "Contract for sale" -- "Sale" -- "Present sale" -- "Conforming" to contract -- "Termination" -- "Cancellation."

  • .107   Goods to be severed from realty -- Recording.

    • Part 2. Form, Formation and

  • .201   Formal requirements -- Statute of frauds.

  • .202   Final written expression -- Parol or extrinsic evidence.

  • .203   Seals inoperative.

  • .204   Formation in general.

  • .205   Firm offers.

  • .206   Offer and acceptance in formation of contract.

  • .207   Additional terms in acceptance or confirmation.

  • .208   Repealed, 2006.

  • .209   Modification, rescission and waiver.

  • .210   Delegation of performance -- Assignment of rights.

    • Part 3. General Obligation

  • .301   General obligations of parties.

  • .302   Unconscionable contract or clause.

  • .303   Allocation or division of risks.

  • .304   Price payable in money, goods, realty, or otherwise.

  • .305   Open price term.

  • .306   Output, requirements and exclusive dealings.

  • .307   Delivery in single lot or several lots.

  • .308   Absence of specified place for delivery.

  • .309   Absence of specific time provisions -- Notice of termination.

  • .310   Open time for payment or running of credit -- Authority to ship under reservation.

  • .311   Options and cooperation respecting performance.

  • .312   Warranty of title and against infringement -- Buyer's obligation against infringement.

  • .313   Express warranties by affirmation, promise, description, sample.

  • .314   Implied warranty: merchantability -- Usage of trade.

  • .315   Implied warranty: fitness for particular purpose.

  • .316   Exclusion or modification of warranties.

  • .317   Cumulation and conflict of warranties express or implied.

  • .318   Third party beneficiaries of warranties express or implied.

  • .319   F.O.B. and F.A.S. terms.

  • .320   C.I.F. and C. & F. terms.

  • .321   C.I.F. or C. & F.: "Net landed weights" -- "Payment on arrival" -- Warranty of condition on arrival.

  • .322   Delivery "ex-ship."

  • .323   Form of bill of lading required in overseas shipment -- "Overseas."

  • .324   "No arrival, no sale" term.

  • .325   "Letter of credit" term -- "Confirmed credit."

  • .326   Sale on approval and sale or return -- Rights of creditors.

  • .327   Special incidents of sale on approval and sale or return.

  • .328   Sale by auction.

    • Part 4. Title, Creditors

  • .401   Passing of title -- Reservation for security -- Limited application of this section.

  • .402   Rights of seller's creditors against sold goods.

  • .403   Power to transfer -- Good faith purchase of goods -- "Entrusting."

    • Part 5. Performance

  • .501   Insurable interest in goods -- Manner of identification of goods.

  • .502   Buyer's right to goods on seller's repudiation, failure to deliver, or insolvency.

  • .503   Manner of seller's tender of delivery.

  • .504   Shipment by seller.

  • .505   Seller's shipment under reservation.

  • .506   Rights of financing agency.

  • .507   Effect of seller's tender -- Delivery on condition.

  • .508   Cure by seller of improper tender or delivery -- Replacement.

  • .509   Risk of loss in the absence of breach.

  • .510   Effect of breach on risk of loss.

  • .511   Tender of payment by buyer -- Payment by check.

  • .512   Payment by buyer before inspection.

  • .513   Buyer's right to inspection of goods.

  • .514   When documents deliverable on acceptance -- When on payment.

  • .515   Preserving evidence of goods in dispute.

    • Part 6. Breach, Repudiation and Excuse

  • .601   Buyer's rights on improper delivery.

  • .602   Manner and effect of rightful rejection.

  • .603   Merchant buyer's duties as to rightfully rejected goods.

  • .604   Buyer's options as to salvage of rightfully rejected goods.

  • .605   Waiver of buyer's objections by failure to particularize.

  • .606   What constitutes acceptance of goods.

  • .607   Effect of acceptance -- Notice of breach -- Burden of establishing breach after acceptance -- Notice of claim or litigation to person answerable over.

  • .608   Revocation of acceptance in whole or in part.

  • .609   Right to adequate assurance of performance.

  • .610   Anticipatory repudiation.

  • .611   Retraction of anticipatory repudiation.

  • .612   "Installment contract" -- Breach.

  • .613   Casualty to identified goods.

  • .614   Substituted performance.

  • .615   Excuse by failure of presupposed conditions.

  • .616   Procedure on notice claiming excuse.

    • Part 7. Remedies

  • .701   Remedies for breach of collateral contracts not impaired.

  • .702   Seller's remedies on discovery of buyer's insolvency.

  • .703   Seller's remedies in general.

  • .704   Seller's right to identify goods to the contract notwithstanding breach or to salvage unfinished goods.

  • .705   Seller's stoppage of delivery in transit or otherwise.

  • .706   Seller's resale including contract for resale.

  • .707   "Person in the position of a seller."

  • .708   Seller's damages for nonacceptance or repudiation.

  • .709   Action for the price.

  • .710   Seller's incidental damages.

  • .711   Buyer's remedies in general -- Buyer's security interest in rejected goods.

  • .712   "Cover" -- Buyer's procurement of substitute goods.

  • .713   Buyer's damages for nondelivery or repudiation.

  • .714   Buyer's damages for breach in regard to accepted goods.

  • .715   Buyer's incidental and consequential damages.

  • .716   Buyer's right to specific performance or replevin.

  • .717   Deduction of damages from the price.

  • .718   Liquidation or limitation of damages -- Deposits.

  • .719   Contractual modification or limitation of remedy.

  • .720   Effect of "cancellation" or "rescission" on claims for antecedent breach.

  • .721   Remedies for fraud.

  • .722   Who can sue third parties for injury to goods.

  • .723   Proof of market price: time and place.

  • .724   Admissibility of market quotations.

  • .725   Statute of limitations in contracts for sale.

    • Previous Chapter |Next Chapter | Title Headings

    End Of Page