- Alaska Statutes.
- Title 45. Trade and Commerce
- Chapter 2. Sales
- Section 502. Buyer's Right to Goods On Seller's Repudiation, Failure to Deliver, or Insolvency.
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. Insurable Interest in Goods; Manner of Identification of Goods.
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. Manner of Seller's Tender of Delivery.
AS 45.02.502. Buyer's Right to Goods On Seller's Repudiation, Failure to Deliver, or Insolvency.
- (a) Subject to (b) and (c) of this section and even though the goods have not been shipped, a buyer who has paid a part or
all of the price of goods in which the buyer has a special property under the provisions of AS 45.02.501
may, on making and keeping good a tender of an unpaid portion of their price, recover them from the seller if
- (1) in the case of goods bought for personal, family, or household purposes, the seller repudiates or fails to deliver as
required by the contract; or
- (2) in all cases, the seller becomes insolvent within 10 days after receipt of the first installment on their price.
- (b) The buyer's right to recover the goods under (a)(1) of this section vests upon acquisition of a special property even
if the seller had not then repudiated or failed to deliver.
- (c) If the identification creating the buyer's special property has been made by the buyer, the buyer acquires the right
to recover the goods only if they conform to the contract for sale.
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