Vermont § 402 - § 2—402.
Full text of Vermont Vermont Statutes Online § 402 — § 2—402., with citation guidance and answers to common questions.
§ 402. § 2—402.
- Rights of seller’s creditors against sold goods (1) Except as provided in subsections (2) and (3) of this section, rights of unsecured creditors of the seller with respect to goods which have been identified to a contract for sale are subject to the buyer’s rights to recover the goods under this article (§§ 2—502 and 2—716). (2) A creditor of the seller may treat a sale or an identification of goods to a contract
for sale as void if as against him or her a retention of possession by the seller
is fraudulent under any rule of law of the state where the goods are situated, except
that retention of possession in good faith and current course of trade by a merchant-seller
for a commercially reasonable time after a sale or identification is not fraudulent. (3) Nothing in this article shall be deemed to impair the rights of creditors of the seller: (a) under the provisions of the article on Secured Transactions (Article 9); or (b) where identification to the contract or delivery is made not in current course of
trade but in satisfaction of or as security for a pre-existing claim for money, security
or the like and is made under circumstances which under any rule of law of the state
where the goods are situated would apart from this article constitute the transaction
a fraudulent transfer or voidable preference.
Frequently Asked Questions About Vermont § 402
What does Vermont Statutes Online § 402 cover?
Section 402 ("§ 2—402.") is part of the Vermont Statutes Online, the codified statutory law of Vermont. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Vermont § 402?
A common citation format is "Vermont Statutes Online § 402" (Vermont). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Vermont law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Vermont official source linked on this page or consult a licensed Vermont attorney.
How does Vermont § 402 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Vermont can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Vermont.