§ 355.2-101 Short title
§ 355.2-102 Scope — Certain security and other transactions excluded from this article
§ 355.2-103 Definitions and index of definitions
§ 355.2-104 Definitions: “merchant” — “Between merchants” — “Financing agency.”
§ 355.2-105 Definitions: transferability — “Goods” — “Future” goods — “Lot” — “Commercial unit.”
§ 355.2-106 Definitions: “contract” — “Agreement” — “Contract for sale” — “Sale” — “Present sale” — “Conforming” to contract — “Termination” — “Cancellation.”
§ 355.2-107 Goods to be severed from realty — Recording
§ 355.2-201 Formal requirements — Statute of frauds
§ 355.2-202 Final written expression — Parol or extrinsic evidence
§ 355.2-203 Seals inoperative
§ 355.2-204 Formation in general
§ 355.2-205 Firm offers
§ 355.2-206 Offer and acceptance in formation of contract
§ 355.2-207 Additional terms in acceptance or confirmation
§ 355.2-209 Modification, rescission and waiver
§ 355.2-210 Delegation of performance — Assignment of rights
§ 355.2-301 General obligations of parties
§ 355.2-302 Unconscionable contract or clause
§ 355.2-303 Allocation or division of risks
§ 355.2-304 Price payable in money, goods, realty, or otherwise
§ 355.2-305 Open price term
§ 355.2-306 Output, requirements and exclusive dealings
§ 355.2-307 Delivery in single lot or several lots
§ 355.2-308 Absence of specified place for delivery
§ 355.2-309 Absence of specific time provisions — Notice of termination
§ 355.2-310 Open time for payment or running of credit — Authority to ship under reservation
§ 355.2-311 Options and cooperation respecting performance
§ 355.2-312 Warranty of title and against infringement — Buyer’s obligation against infringement
§ 355.2-313 Express warranties by affirmation, promise, description, sample
§ 355.2-314 Implied warranty: merchantability — Usage of trade
§ 355.2-315 Implied warranty: fitness for particular purpose
§ 355.2-316 Exclusion or modification of warranties
§ 355.2-317 Cumulation and conflict of warranties express or implied
§ 355.2-318 Third party beneficiaries of warranties express or implied
§ 355.2-319 F.O.B. and F.A.S. terms
§ 355.2-320 C.I.F. and C. & F. terms
§ 355.2-321 C.I.F. or C. & F.: “Net landed weights” — “Payment on arrival” — Warranty of condition on arrival
§ 355.2-322 Delivery “ex-ship.”
§ 355.2-323 Form of bill of lading required in overseas shipment — “Overseas.”
§ 355.2-324 “No arrival, no sale” term
§ 355.2-325 “Letter of credit” term — “Confirmed credit.”
§ 355.2-326 Sale on approval and sale or return — Rights of creditors
§ 355.2-327 Special incidents of sale on approval and sale or return
§ 355.2-328 Sale by auction
§ 355.2-401 Passing of title — Reservation for security — Limited application of this section
§ 355.2-402 Rights of seller’s creditors against sold goods
§ 355.2-403 Power to transfer — Good faith purchase of goods — “Entrusting.”
§ 355.2-501 Insurable interest in goods — Manner of identification of goods
§ 355.2-502 Buyer’s right to goods on seller’s repudiation, failure to deliver, or insolvency
§ 355.2-503 Manner of seller’s tender of delivery
§ 355.2-504 Shipment by seller
§ 355.2-505 Seller’s shipment under reservation
§ 355.2-506 Rights of financing agency
§ 355.2-507 Effect of seller’s tender — Delivery on condition
§ 355.2-508 Cure by seller of improper tender or delivery — Replacement
§ 355.2-509 Risk of loss in the absence of breach
§ 355.2-510 Effect of breach on risk of loss
§ 355.2-511 Tender of payment by buyer — Payment by check
§ 355.2-512 Payment by buyer before inspection
§ 355.2-513 Buyer’s right to inspection of goods
§ 355.2-514 When documents deliverable on acceptance — When on payment
§ 355.2-515 Preserving evidence of goods in dispute
§ 355.2-601 Buyer’s rights on improper delivery
§ 355.2-602 Manner and effect of rightful rejection
§ 355.2-603 Merchant buyer’s duties as to rightfully rejected goods
§ 355.2-604 Buyer’s options as to salvage of rightfully rejected goods
§ 355.2-605 Waiver of buyer’s objections by failure to particularize
§ 355.2-606 What constitutes acceptance of goods
§ 355.2-607 Effect of acceptance — Notice of breach — Burden of establishing breach after acceptance — Notice of claim or litigation to person answerable over
§ 355.2-608 Revocation of acceptance in whole or in part
§ 355.2-609 Right to adequate assurance of performance
§ 355.2-610 Anticipatory repudiation
§ 355.2-611 Retraction of anticipatory repudiation
§ 355.2-612 “Installment contract” — Breach
§ 355.2-613 Casualty to identified goods
§ 355.2-614 Substituted performance
§ 355.2-615 Excuse by failure of presupposed conditions
§ 355.2-616 Procedure on notice claiming excuse
§ 355.2-701 Remedies for breach of collateral contracts not impaired
§ 355.2-702 Seller’s remedies on discovery of buyer’s insolvency
§ 355.2-703 Seller’s remedies in general
§ 355.2-704 Seller’s right to identify goods to the contract notwithstanding breach or to salvage unfinished goods
§ 355.2-705 Seller’s stoppage of delivery in transit or otherwise
§ 355.2-706 Seller’s resale including contract for resale
§ 355.2-707 “Person in the position of a seller.”
§ 355.2-708 Seller’s damages for nonacceptance or repudiation
§ 355.2-709 Action for the price
§ 355.2-710 Seller’s incidental damages
§ 355.2-711 Buyer’s remedies in general — Buyer’s security interest in rejected goods
§ 355.2-712 “Cover” — Buyer’s procurement of substitute goods
§ 355.2-713 Buyer’s damages for nondelivery or repudiation
§ 355.2-714 Buyer’s damages for breach in regard to accepted goods
§ 355.2-715 Buyer’s incidental and consequential damages
§ 355.2-716 Buyer’s right to specific performance or replevin
§ 355.2-717 Deduction of damages from the price
§ 355.2-718 Liquidation or limitation of damages — Deposits
§ 355.2-719 Contractual modification or limitation of remedy
§ 355.2-720 Effect of “cancellation” or “rescission” on claims for antecedent breach
§ 355.2-721 Remedies for fraud
§ 355.2-722 Who can sue third parties for injury to goods
§ 355.2-723 Proof of market price: time and place
§ 355.2-724 Admissibility of market quotations
§ 355.2-725 Statute of limitations in contracts for sale

Terms Used In Kentucky Statutes > Chapter 355 > Article 2 - Sales

  • Action: includes all proceedings in any court of this state. See Kentucky Statutes 446.010
  • Affidavit: A written statement of facts confirmed by the oath of the party making it, before a notary or officer having authority to administer oaths.
  • Affirmed: In the practice of the appellate courts, the decree or order is declared valid and will stand as rendered in the lower court.
  • Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
  • Answer: The formal written statement by a defendant responding to a civil complaint and setting forth the grounds for defense.
  • Appeal: A request made after a trial, asking another court (usually the court of appeals) to decide whether the trial was conducted properly. To make such a request is "to appeal" or "to take an appeal." One who appeals is called the appellant.
  • Arrest: Taking physical custody of a person by lawful authority.
  • Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
  • Attachment: A procedure by which a person's property is seized to pay judgments levied by the court.
  • Attorney: means attorney-at-law. See Kentucky Statutes 446.010
  • Bankruptcy: Refers to statutes and judicial proceedings involving persons or businesses that cannot pay their debts and seek the assistance of the court in getting a fresh start. Under the protection of the bankruptcy court, debtors may discharge their debts, perhaps by paying a portion of each debt. Bankruptcy judges preside over these proceedings.
  • branch budget: means an enactment by the General Assembly which provides appropriations and establishes fiscal policies and conditions for the biennial financial plan for the judicial branch, the legislative branch, and the executive branch, which shall include a separate budget bill for the Transportation Cabinet. See Kentucky Statutes 446.010
  • Buyer: means a person who buys or contracts to buy goods. See Kentucky Statutes 355.2-103
  • Chief judge: The judge who has primary responsibility for the administration of a court but also decides cases; chief judges are determined by seniority.
  • City: includes town. See Kentucky Statutes 446.010
  • Company: may extend and be applied to any corporation, company, person, partnership, joint stock company, or association. See Kentucky Statutes 446.010
  • Contract: A legal written agreement that becomes binding when signed.
  • Contract for sale: includes both a present sale of goods and a contract to sell goods at a future time. See Kentucky Statutes 355.2-106
  • Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
  • Corporation: may extend and be applied to any corporation, company, partnership, joint stock company, or association. See Kentucky Statutes 446.010
  • Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
  • Deed: The legal instrument used to transfer title in real property from one person to another.
  • Defendant: In a civil suit, the person complained against; in a criminal case, the person accused of the crime.
  • Deposition: An oral statement made before an officer authorized by law to administer oaths. Such statements are often taken to examine potential witnesses, to obtain discovery, or to be used later in trial.
  • Discovery: Lawyers' examination, before trial, of facts and documents in possession of the opponents to help the lawyers prepare for trial.
  • Discretionary spending: Spending (budget authority and outlays)controlled in annual appropriations acts.
  • Dismissal: The dropping of a case by the judge without further consideration or hearing. Source:
  • Domestic: when applied to a corporation, partnership, business trust, or limited liability company, means all those incorporated or formed by authority of this state. See Kentucky Statutes 446.010
  • Enrolled bill: The final copy of a bill or joint resolution which has passed both chambers in identical form. It is printed on parchment paper, signed by appropriate officials, and submitted to the President/Governor for signature.
  • Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
  • Ex officio: Literally, by virtue of one's office.
  • Federal: refers to the United States. See Kentucky Statutes 446.010
  • Fiduciary: A trustee, executor, or administrator.
  • Foreign: when applied to a corporation, partnership, limited partnership, business trust, statutory trust, or limited liability company, includes all those incorporated or formed by authority of any other state. See Kentucky Statutes 446.010
  • Fraud: Intentional deception resulting in injury to another.
  • Grand jury: agreement providing that a lender will delay exercising its rights (in the case of a mortgage,
  • Habeas corpus: A writ that is usually used to bring a prisoner before the court to determine the legality of his imprisonment. It may also be used to bring a person in custody before the court to give testimony, or to be prosecuted.
  • Impeachment: (1) The process of calling something into question, as in "impeaching the testimony of a witness." (2) The constitutional process whereby the House of Representatives may "impeach" (accuse of misconduct) high officers of the federal government for trial in the Senate.
  • Indictment: The formal charge issued by a grand jury stating that there is enough evidence that the defendant committed the crime to justify having a trial; it is used primarily for felonies.
  • Injunction: An order of the court prohibiting (or compelling) the performance of a specific act to prevent irreparable damage or injury.
  • Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
  • Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
  • Legal tender: coins, dollar bills, or other currency issued by a government as official money. Source: U.S. Mint
  • Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
  • Lien: A claim against real or personal property in satisfaction of a debt.
  • Litigation: A case, controversy, or lawsuit. Participants (plaintiffs and defendants) in lawsuits are called litigants.
  • Month: means calendar month. See Kentucky Statutes 446.010
  • Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
  • Oath: A promise to tell the truth.
  • Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
  • Oversight: Committee review of the activities of a Federal agency or program.
  • Owner: when applied to any animal, means any person having a property interest in such animal. See Kentucky Statutes 446.010
  • Plaintiff: The person who files the complaint in a civil lawsuit.
  • Pleadings: Written statements of the parties in a civil case of their positions. In the federal courts, the principal pleadings are the complaint and the answer.
  • Power of attorney: A written instrument which authorizes one person to act as another's agent or attorney. The power of attorney may be for a definite, specific act, or it may be general in nature. The terms of the written power of attorney may specify when it will expire. If not, the power of attorney usually expires when the person granting it dies. Source: OCC
  • present sale: means a sale which is accomplished by the making of the contract. See Kentucky Statutes 355.2-106
  • Probate: Proving a will
  • Prosecute: To charge someone with a crime. A prosecutor tries a criminal case on behalf of the government.
  • real estate: includes lands, tenements, and hereditaments and all rights thereto and interest therein, other than a chattel interest. See Kentucky Statutes 446.010
  • Regular election: means the election in even-numbered years at which members of Congress are elected and the election in odd-numbered years at which state officers are elected. See Kentucky Statutes 446.010
  • Remainder: An interest in property that takes effect in the future at a specified time or after the occurrence of some event, such as the death of a life tenant.
  • Rescission: The cancellation of budget authority previously provided by Congress. The Impoundment Control Act of 1974 specifies that the President may propose to Congress that funds be rescinded. If both Houses have not approved a rescission proposal (by passing legislation) within 45 days of continuous session, any funds being withheld must be made available for obligation.
  • Restitution: The court-ordered payment of money by the defendant to the victim for damages caused by the criminal action.
  • Seller: means a person who sells or contracts to sell goods. See Kentucky Statutes 355.2-103
  • Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
  • State: when applied to a part of the United States, includes territories, outlying possessions, and the District of Columbia. See Kentucky Statutes 446.010
  • Statute: A law passed by a legislature.
  • Statute of limitations: A law that sets the time within which parties must take action to enforce their rights.
  • Subpoena: A command to a witness to appear and give testimony.
  • Summons: Another word for subpoena used by the criminal justice system.
  • Sworn: includes "affirmed" in all cases in which an affirmation may be substituted for an oath. See Kentucky Statutes 446.010
  • Testify: Answer questions in court.
  • Testimony: Evidence presented orally by witnesses during trials or before grand juries.
  • Transcript: A written, word-for-word record of what was said, either in a proceeding such as a trial or during some other conversation, as in a transcript of a hearing or oral deposition.
  • Trial: A hearing that takes place when the defendant pleads "not guilty" and witnesses are required to come to court to give evidence.
  • Trustee: A person or institution holding and administering property in trust.
  • Uniform Commercial Code: A set of statutes enacted by the various states to provide consistency among the states' commercial laws. It includes negotiable instruments, sales, stock transfers, trust and warehouse receipts, and bills of lading. Source: OCC
  • Writ: A formal written command, issued from the court, requiring the performance of a specific act.
  • Year: means calendar year. See Kentucky Statutes 446.010