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All Hope May Not Be Lost For a Seller of Goods to an Insolvent Buyer

By Kenneth L. Baum on August 3, 2009
Posted in Bankruptcy Litigation

In these days of economic uncertainty and write-offs, sellers should be aware of their right under Section 2-705 of the Uniform Commercial Code (UCC) to stop the delivery of goods in transit to an insolvent buyer who has not taken physical possession of the goods. “Insolvent,” within the meaning of the UCC, means that a…

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