Vermont § 702 - § 2—702.
Full text of Vermont Vermont Statutes Online § 702 — § 2—702., with citation guidance and answers to common questions.
§ 702. § 2—702.
- Seller’s remedies on discovery of buyer’s insolvency (1) Where the seller discovers the buyer to be insolvent he or she may refuse delivery except for cash including payment for all goods theretofore delivered under the contract, and stop delivery under this article (§ 2—705). (2) Where the seller discovers that the buyer has received goods on credit while insolvent
he or she may reclaim the goods upon demand made within ten days after the receipt,
but if misrepresentation of solvency has been made to the particular seller in writing
within three months before delivery the ten day limitation does not apply. Except
as provided in this subsection the seller may not base a right to reclaim goods on
the buyer’s fraudulent or innocent misrepresentation of solvency or of intent to pay. (3) The seller’s right to reclaim under subsection (2) is subject to the rights of a buyer in ordinary course or other good faith purchaser under this article (§ 2—403). Successful reclamation of goods excludes all other remedies with respect to them. (Amended 1993, No. 158 (Adj. Sess.) § 9, eff. Jan. 1, 1995.)
Frequently Asked Questions About Vermont § 702
What does Vermont Statutes Online § 702 cover?
Section 702 ("§ 2—702.") 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 § 702?
A common citation format is "Vermont Statutes Online § 702" (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 § 702 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.