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Section 34.1-2-326 - Sale on Approval and Sale or Return; Consignment Sales and Rights of Creditors.

WY Stat § 34.1-2-326 (2019) (N/A)
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34.1-2-326. Sale on approval and sale or return; consignment sales and rights of creditors.

(a) Unless otherwise agreed, if delivered goods may be returned by the buyer even though they conform to the contract, the transaction is:

(i) A "sale on approval" if the goods are delivered primarily for use; and

(ii) A "sale or return" if the goods are delivered primarily for resale.

(b) Goods held on approval are not subject to the claims of the buyer's creditors until acceptance, goods held on sale or return are subject to such claims while in the buyer's possession.

(c) Repealed By Laws 2001, Ch. 137, § 4.

(d) Any "or return" term of a contract for sale is to be treated as a separate contract for sale within the statute of frauds section of this article (section 34.1-2-201) and as contradicting the sale aspect of the contract within the provisions of this article on parol or extrinsic evidence (section 34.1-2-202).

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Section 34.1-2-325 - &Quot;letter of Credit" Term; &Quot;confirmed Credit".
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Section 34.1-2-327 - Special Incidents of Sale on Approval and Sale or Return.