Florida Statute 672.502 - Full Text and Legal Analysis

The 2025 Florida Statutes

Title XXXIX
COMMERCIAL RELATIONS

Chapter 672
UNIFORM COMMERCIAL CODE: SALES

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672.502 Buyer’s right to goods on seller’s repudiation, failure to deliver, or insolvency.—

(1) Subject to subsections (2) and (3), 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 she or he has a special property under the provisions of the immediately preceding section may on making and keeping good a tender of any unpaid portion of their price recover them from the seller if:

(a) 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

(b) In all cases, the seller becomes insolvent within ten days after receipt of the first installment on their price.

(2) The buyer’s right to recover the goods under paragraph (1)(a) vests upon acquisition of a special property, even if the seller has not then repudiated or failed to deliver.

(3) If the identification creating her or his special property has been made by the buyer she or he acquires the right to recover the goods only if they conform to the contract for sale.

History.—s. 1, ch. 65-254; s. 578, ch. 97-102; s. 14, ch. 2001-198.

Note.—s. 2-502, U.C.C.

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Amendments to 672.502

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Cases Citing Statute 672.502

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In re CSY Yacht Corp., 42 B.R. 619 (Bankr. M.D. Fla. 1984).

Published | United States Bankruptcy Court, M.D. Florida | 39 U.C.C. Rep. Serv. (West) 879, 1984 Bankr. LEXIS 4924

...an unsecured claim for $37,000, but does object to the claim as secured. The Jaegars claim secured status of this claim on the basis that they have a special property interest in CSY’s materials, supplies and parts inventory pursuant to Fla.Stat. § 672.502 (1981)....

...haser. In the event of any rejection of any materials or equipment by the purchaser, title to such goods will revest in the builder.” It is Jaegars’ position that they have a right to recover goods from CSY as an insolvent seller under Fla.Stat. § 672.502 and that this right was transferred to the proceeds of the sale under the notice of the sale. Fla.Stat. § 672.502 provides as follows: § 672.502....

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