Me. Rev. Stat. » Title 11
Maine Revised Statutes

Me. Rev. Stat. tit. 11, § 2-505 (2026)

Seller's shipment under reservation

✓ current as of May 2026
Find cases: SyfertCases citing this section ME-LEGlegislature.maine.gov JustiaTitle on Justia CornellLII Search CasesGoogle Scholar
(1).  Where the seller has identified goods to the contract by or before shipment,  
(a). His procurement of a negotiable bill of lading to his own order or otherwise reserves in him a security interest in the goods. His procurement of the bill to the order of a financing agency or of the buyer indicates in addition only the seller's expectation of transferring that interest to the person named.  
(b). A nonnegotiable bill of lading to the seller or the seller's nominee reserves possession of the goods as security, but except in a case of conditional delivery under section 2‑507, subsection (2) a nonnegotiable bill of lading naming the buyer as consignee reserves no security interest even though the seller retains possession or control of the bill of lading.   [PL 2009, c. 324, Pt. B, §12 (AMD); PL 2009, c. 324, Pt. B, §48 (AFF).]
[PL 2009, c. 324, Pt. B, §12 (AMD); PL 2009, c. 324, Pt. B, §48 (AFF).]
(2).  When shipment by the seller with reservation of a security interest is in violation of the contract for sale, it constitutes an improper contract for transportation within section 2‑504 but impairs neither the rights given to the buyer by shipment and identification of the goods to the contract nor the seller's powers as a holder of a negotiable document of title.  
[PL 2009, c. 324, Pt. B, §13 (AMD); PL 2009, c. 324, Pt. B, §48 (AFF).]
SECTION HISTORY
PL 2009, c. 324, Pt. B, §§12, 13 (AMD). PL 2009, c. 324, Pt. B, §48 (AFF).
The Revisor's Office cannot provide legal advice or interpretation of Maine law to the public.
If you need legal advice, please consult a qualified attorney.
Notes of Decisions
Cited in 1 case, 1984–1984 · leading case: Argus Mgmt. Corp. v. Pillsbury Co. (In Re Hillcrest Foods, Inc.), 40 B.R. 360 (Bankr. D. Me. 1984).
Sort: Relevance Newest Treatment
Argus Mgmt. Corp. v. Pillsbury Co. (In Re Hillcrest Foods, Inc.), 40 B.R. 360 (Bankr. D. Me. 1984). · cites it 2× “See Me.Rev. Stat.Ann. tit. 11, § 2-505 comment I (Uniform Commercial Code Comment) (1964); see also 3A Benders Uniform Commercial Code Service § 11.”
— Me. Rev. Stat. tit. 11, § 2-505(l)(a) — 1 case
Argus Mgmt. Corp. v. Pillsbury Co. (In Re Hillcrest Foods, Inc.), 40 B.R. 360 (Bankr. D. Me. 1984). “See Me.Rev. Stat.Ann. tit. 11, § 2-505 comment I (Uniform Commercial Code Comment) (1964); see also 3A Benders Uniform Commercial Code Service § 11.”
Annotations are extracted automatically from the opinions in the Syfert caselaw corpus and ranked by authority, recency, and treatment. Dots show Syfertize treatment of the citing case itself.