Florida Statute 672.702 - Full Text and Legal Analysis

The 2025 Florida Statutes

Title XXXIX
COMMERCIAL RELATIONS

Chapter 672
UNIFORM COMMERCIAL CODE: SALES

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F.S. 672.702

672.702 Seller’s remedies on discovery of buyer’s insolvency.—

(1) Where the seller discovers the buyer to be insolvent the seller may refuse delivery except for cash including payment for all goods theretofore delivered under the contract, and stop delivery under this chapter (s. 672.705).

(2) Where the seller discovers that the buyer has received goods on credit while insolvent the seller may reclaim the goods upon demand made within 10 days after the receipt, but if misrepresentation of solvency has been made to the particular seller in writing within 3 months before delivery the 10-day limitation does not apply. Except as provided in this subsection the seller may not base a right to reclaim goods on the buyer’s fraudulent or innocent misrepresentation of solvency or of intent to pay.

(3) The seller’s right to reclaim under subsection (2) is subject to the rights of a buyer in ordinary course or other good faith purchaser under this chapter (s. 672.403). Successful reclamation of goods excludes all other remedies with respect to them.

History.—s. 1, ch. 65-254; s. 4, ch. 79-398; s. 601, ch. 97-102.

Note.—s. 2-702, U.C.C.

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Amendments to 672.702

Annotations, Discussions, Cases:

Cases Citing Statute 672.702

Total Results: 14

Isaly Klondike Co. v. Sunstate Dairy & Food Products Co. (In Re Sunstate Dairy & Food Products Co.)

145 B.R. 341, 19 U.C.C. Rep. Serv. 2d (West) 113, 6 Fla. L. Weekly Fed. B 224, 1992 Bankr. LEXIS 1496, 23 Bankr. Ct. Dec. (CRR) 777

United States Bankruptcy Court, M.D. Florida | Filed: Sep 15, 1992 | Docket: 1118018

Cited 18 times | Published

cream remains for decision by this Court. Section 672.702(2) of the Florida Statutes[3] provides the

Mierzwa v. Florida Windstorm Underwriting

877 So. 2d 774, 2004 Fla. App. LEXIS 8804, 2004 WL 1392320

District Court of Appeal of Florida | Filed: Jun 23, 2004 | Docket: 1437174

Cited 17 times | Published

building be torn down and the site elevated. Section 672.702(1), Florida Statutes (2003), the valued policy

Tate Cheese Co. v. Crofton & Sons, Inc. (In Re Crofton & Sons, Inc.)

139 B.R. 567, 17 U.C.C. Rep. Serv. 2d (West) 782, 6 Fla. L. Weekly Fed. B 97, 1992 Bankr. LEXIS 631, 22 Bankr. Ct. Dec. (CRR) 1457

United States Bankruptcy Court, M.D. Florida | Filed: Apr 30, 1992 | Docket: 1111388

Cited 8 times | Published

(Bankr.N.D.Ill.1989). The parties agree that Section 672.702(2) of the Florida Statutes[3] provides a statutory

First State Bank of Miami v. Gotham Provision Co. (In Re Gotham Provision Co.)

1 B.R. 255, 1979 Bankr. LEXIS 808, 5 Bankr. Ct. Dec. (CRR) 997

United States Bankruptcy Court, S.D. Florida. | Filed: Oct 26, 1979 | Docket: 1804290

Cited 8 times | Published

has asserted a reclamation claim under either § 672.702(2) or § 672.507(2), Florida Statutes. While the

Champion International Corp. v. Davidson Lumber Co. (In Re Davidson Lumber Co.)

22 B.R. 775, 1982 Bankr. LEXIS 3701, 9 Bankr. Ct. Dec. (CRR) 811

United States Bankruptcy Court, S.D. Florida. | Filed: Jul 16, 1982 | Docket: 1401582

Cited 6 times | Published

course or other good faith purchaser. Fla.Stat. § 672.702(3). The debtor's reliance on the fact that there

R. J. Reynolds Tobacco Co. v. Eli Witt Co. (In Re Eli Witt Co.)

12 B.R. 757, 32 U.C.C. Rep. Serv. (West) 120, 1981 Bankr. LEXIS 3421

United States Bankruptcy Court, M.D. Florida | Filed: Jul 7, 1981 | Docket: 1503661

Cited 6 times | Published

adopted in the State of Florida as Fla.Stat. § 672.702 cannot be asserted against a debtor-in-possession

Lawrence Pharmaceuticals, Inc. v. Best Buy Drugs, Inc. (In Re Best Buy Drugs, Inc.)

89 B.R. 997, 7 U.C.C. Rep. Serv. 2d (West) 1513, 1988 Bankr. LEXIS 1425

United States Bankruptcy Court, S.D. Florida. | Filed: Aug 23, 1988 | Docket: 1385280

Cited 5 times | Published

other relief pursuant to 11 U.S.C. 546(c) and Section 672.702 of the Florida statutes. The Court having considered

Graphic Productions Corp. v. WWF Paper Corp. (In Re Graphic Productions Corp.)

176 B.R. 65, 8 Fla. L. Weekly Fed. B 262, 32 Collier Bankr. Cas. 2d 879, 1994 Bankr. LEXIS 2011, 26 Bankr. Ct. Dec. (CRR) 545

United States Bankruptcy Court, S.D. Florida. | Filed: Dec 13, 1994 | Docket: 1489147

Cited 3 times | Published

reclamation from a debtor under § 546(c) and § 672.702(2), Florida Statutes, a seller must satisfy the

Quaker Oats Co. v. Affiliated of Florida, Inc. (In Re Affiliated of Florida, Inc.)

237 B.R. 495, 42 Collier Bankr. Cas. 2d 955, 12 Fla. L. Weekly Fed. B 338, 39 U.C.C. Rep. Serv. 2d (West) 997, 1998 Bankr. LEXIS 1877, 1998 WL 1107972

United States Bankruptcy Court, M.D. Florida | Filed: Jul 7, 1998 | Docket: 1475353

Cited 2 times | Published

on the Judiciary, Senate Report No. 95-989. Section 672.702 of the Florida Statutes, which constitutes

In Re Penthouse Travelers of Aripeka, Inc.

120 B.R. 226, 1990 Bankr. LEXIS 2203, 1990 WL 157373

United States Bankruptcy Court, M.D. Florida | Filed: Oct 12, 1990 | Docket: 1879365

Cited 2 times | Published

February 28 and March 2, 1990, pursuant to Fla.Stat. § 672.702. (Banks' Exh. No. 1). On the same day, the sales

Johnson Matthey Ltd. v. United Precious Metals, Inc. (In Re United Precious Metals, Inc.)

39 B.R. 14, 1984 Bankr. LEXIS 5998

United States Bankruptcy Court, S.D. Florida. | Filed: Mar 28, 1984 | Docket: 1836357

Cited 2 times | Published

that it is not entitled to reclamation under § 672.702, Florida Statutes (U.C.C. § 2-702). Plaintiff

Beason-Simons v. AVION TECHNOLOGIES

662 So. 2d 1317, 1995 WL 637513

District Court of Appeal of Florida | Filed: Nov 1, 1995 | Docket: 1683553

Cited 1 times | Published

Whether a seller's right of reclamation under section 672.702, Florida Statutes, where seller discovers buyer

In Re Nitram, Inc.

323 B.R. 792, 18 Fla. L. Weekly Fed. B 187, 57 U.C.C. Rep. Serv. 2d (West) 374, 2005 Bankr. LEXIS 659, 44 Bankr. Ct. Dec. (CRR) 176, 2005 WL 925665

United States Bankruptcy Court, M.D. Florida | Filed: Apr 4, 2005 | Docket: 1466090

Published

Uniform Commercial Code to the seller's claim. Section 672.702 of the Florida Statutes provides: 672.702.

Brown & Williamson Tobacco Corp. v. Eli Witt Co. (In re Eli Witt Co.)

16 B.R. 197, 1981 Bankr. LEXIS 2566

United States Bankruptcy Court, M.D. Florida | Filed: Nov 16, 1981 | Docket: 65778035

Published

in the State of Florida as. Florida Statutes § 672.702, cannot be asserted against a debtor-in-possession