Mississippi Code

Miss. Code Ann. § 75-2-702 (2026)

Seller's remedies on discovery of buyer's insolvency

✓ current as of July 2026

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(1) Where the seller discovers the buyer to be insolvent he may refuse delivery except for cash including payment for all goods theretofore delivered under the contract, and stop delivery under this chapter (Section 2-705) [Section 75-2-705].

(2) Where the seller discovers that the buyer has received goods on credit while insolvent he may reclaim the goods upon demand made within ten (10) days after the receipt, but if misrepresentation of solvency has been made to the particular seller in writing within three (3) months before delivery the ten-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 (Section 2-403) [Section 75-2-403]. Successful reclamation of goods excludes all other remedies with respect to them.

Codes, 1942, § 41A:2-702; Laws, 1966, ch. 316, § 2-702; Laws, 1968, ch. 486, § 1, eff. 3/31/1968.

Notes of Decisions

Cited in 2 cases (1 in the last 5 years), 1983–2026 · leading case: Shell Oil Co. v. Mills Oil Co., Inc., Citizens Bank of Byhalia, Ms., Dudley R. Moore, Jr. & John Mark Crain, D.D. Mills, 717 F.2d 208 (5th Cir. 1983).

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Shell Oil Co. v. Mills Oil Co., Inc., Citizens Bank of Byhalia, Ms., Dudley R. Moore, Jr. & John Mark Crain, D.D. Mills, 717 F.2d 208 (5th Cir. 1983). · cites it 2× “Shell’s remedies as an unpaid credit seller are set forth in Miss.Code Ann. § 75-2-702 (1972). 2 Shell bases its right to relief on the interaction between § 75-2-702(3) and Miss.”

Hansen-Mueller Co. (Bankr. D. Neb. 2026). “” Miss. Code Ann. § 75-2-702 (2) (West); Neb.”

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