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KRS 355.2-704

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

Known as the Uniform Commercial Code

The act spans §§ 355.10-101–355.9-809 (686 sections).

Applied in 1 court decision — leading case Upton v. Ginn (2007)

Most recently applied in Upton v. Ginn (August 2007)

Effective: July 1, 1960 History: Created 1958 Ky

(1) An aggrieved seller under KRS 355.2-703 may (a) identify to the contract conforming goods not already identified if at the time he learned of the breach they are in his possession or control;

(b) treat as the subject of resale goods which have demonstrably been intended for the particular contract even though those goods are unfinished.

(2) Where the goods are unfinished an aggrieved seller may in the exercise of reasonable commercial judgment for the purposes of avoiding loss and of effective realization either complete the manufacture and wholly identify the goods to the contract or cease manufacture and resell for scrap or salvage value or proceed in any other reasonable manner.

Official source: Kentucky General Assembly. Reproduced from public-domain Kentucky statutes; confirm against the official source for the current text. Not legal advice.