Florida Statutes
Fla. Stat. § 672.402 (2025)
Rights of seller’s creditors against sold goods.
✓ 2025 Florida Statutes — current through the 2025 Regular Session
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672.402 Rights of seller’s creditors against sold goods.—
(1) Except as provided in subsections (2) and (3), 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 chapter (ss. 672.502 and 672.716).
(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 chapter shall be deemed to impair the rights of creditors of the seller:
(a) Under the provisions of the chapter on secured transactions (chapter 679); 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 preexisting 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 chapter constitute the transaction a fraudulent transfer or voidable preference.
Note.—s. 2-402, U.C.C.
Notes of Decisions
Cited in 1
case, 1985–1985 · leading case: Faircloth v. Bouchard (In Re the Int'l Gold Bullion Exch., Inc.), 53 B.R. 660 (Bankr. S.D. Florida 1985).
Faircloth v. Bouchard (In Re the Int'l Gold Bullion Exch., Inc.), 53 B.R. 660 (Bankr. S.D. Florida 1985). “This case is an interpretation of Section 672.402, Fla.Stat. Identification of the goods to the contract is governed by Section 672.”
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