Kentucky Revised Statutes
Includes enactments through the 2024 Regular Session
Chapter titles, centered headings, section catchlines, and explanatory notes are for informational purposes only and do not constitute any part of the law. For general laws governing construction of statutes, see KRS Chapter 446.
The KRS database was last updated on 11/22/2024
.2-101 Short title.
.2-102 Scope -- Certain security and other transactions excluded from this article. (Effective until January 1, 2025)
.2-102 Scope -- Certain security and other transactions excluded from this article. (Effective January 1, 2025)
.2-103 Definitions and index of definitions.
.2-104 Definitions: "merchant" -- "Between merchants" -- "Financing agency."
.2-105 Definitions: transferability -- "Goods" -- "Future" goods -- "Lot" -- "Commercial unit."
.2-106 Definitions: "contract" -- "Agreement" -- "Contract for sale" -- "Sale" -- "Present sale" -- "Conforming" to contract -- "Termination" -- "Cancellation." (Effective until January 1, 2025)
.2-106 Definitions -- "Contract" -- "Agreement" -- "Contract for sale" -- "Sale" -- "Present sale" -- "Conforming" to contract -- "Termination" -- "Cancellation" -- "Hybrid transaction." (Effective January 1, 2025)
.2-107 Goods to be severed from realty -- Recording.
.2-201 Formal requirements -- Statute of frauds. (Effective until January 1, 2025)
.2-201 Formal requirements -- Statute of frauds. (Effective January 1, 2025)
.2-202 Final expression -- Parol or extrinsic evidence. (Effective January 1, 2025)
.2-202 Final written expression -- Parol or extrinsic evidence. (Effective until January 1, 2025)
.2-203 Seals inoperative. (Effective until January 1, 2025)
.2-203 Seals inoperative. (Effective January 1, 2025)
.2-204 Formation in general.
.2-205 Firm offers. (Effective until January 1, 2025)
.2-205 Firm offers. (Effective January 1, 2025)
.2-206 Offer and acceptance in formation of contract.
.2-207 Additional terms in acceptance or confirmation.
.2-208 Repealed, 2006.
.2-209 Modification, rescission and waiver. (Effective until January 1, 2025)
.2-209 Modification, rescission, and waiver. (Effective January 1, 2025)
.2-210 Delegation of performance -- Assignment of rights.
.2-301 General obligations of parties.
.2-302 Unconscionable contract or clause.
.2-303 Allocation or division of risks.
.2-304 Price payable in money, goods, realty, or otherwise.
.2-305 Open price term.
.2-306 Output, requirements and exclusive dealings.
.2-307 Delivery in single lot or several lots.
.2-308 Absence of specified place for delivery.
.2-309 Absence of specific time provisions -- Notice of termination.
.2-310 Open time for payment or running of credit -- Authority to ship under reservation.
.2-311 Options and cooperation respecting performance.
.2-312 Warranty of title and against infringement -- Buyer's obligation against infringement.
.2-313 Express warranties by affirmation, promise, description, sample.
.2-314 Implied warranty: merchantability -- Usage of trade.
.2-315 Implied warranty: fitness for particular purpose.
.2-316 Exclusion or modification of warranties.
.2-317 Cumulation and conflict of warranties express or implied.
.2-318 Third party beneficiaries of warranties express or implied.
.2-319 F.O.B. and F.A.S. terms.
.2-320 C.I.F. and C. & F. terms.
.2-321 C.I.F. or C. & F.: "Net landed weights" -- "Payment on arrival" -- Warranty of condition on arrival.
.2-322 Delivery "ex-ship."
.2-323 Form of bill of lading required in overseas shipment -- "Overseas."
.2-324 "No arrival, no sale" term.
.2-325 "Letter of credit" term -- "Confirmed credit."
.2-326 Sale on approval and sale or return -- Rights of creditors.
.2-327 Special incidents of sale on approval and sale or return.
.2-328 Sale by auction.
.2-401 Passing of title -- Reservation for security -- Limited application of this section.
.2-402 Rights of seller's creditors against sold goods.
.2-403 Power to transfer -- Good faith purchase of goods -- "Entrusting."
.2-501 Insurable interest in goods -- Manner of identification of goods.
.2-502 Buyer's right to goods on seller's repudiation, failure to deliver, or insolvency.
.2-503 Manner of seller's tender of delivery.
.2-504 Shipment by seller.
.2-505 Seller's shipment under reservation.
.2-506 Rights of financing agency.
.2-507 Effect of seller's tender -- Delivery on condition.
.2-508 Cure by seller of improper tender or delivery -- Replacement.
.2-509 Risk of loss in the absence of breach.
.2-510 Effect of breach on risk of loss.
.2-511 Tender of payment by buyer -- Payment by check.
.2-512 Payment by buyer before inspection.
.2-513 Buyer's right to inspection of goods.
.2-514 When documents deliverable on acceptance -- When on payment.
.2-515 Preserving evidence of goods in dispute.
.2-601 Buyer's rights on improper delivery.
.2-602 Manner and effect of rightful rejection.
.2-603 Merchant buyer's duties as to rightfully rejected goods.
.2-604 Buyer's options as to salvage of rightfully rejected goods.
.2-605 Waiver of buyer's objections by failure to particularize.
.2-606 What constitutes acceptance of goods.
.2-607 Effect of acceptance -- Notice of breach -- Burden of establishing breach after acceptance -- Notice of claim or litigation to person answerable over.
.2-608 Revocation of acceptance in whole or in part.
.2-609 Right to adequate assurance of performance.
.2-610 Anticipatory repudiation.
.2-611 Retraction of anticipatory repudiation.
.2-612 "Installment contract" -- Breach.
.2-613 Casualty to identified goods.
.2-614 Substituted performance.
.2-615 Excuse by failure of presupposed conditions.
.2-616 Procedure on notice claiming excuse.
.2-701 Remedies for breach of collateral contracts not impaired.
.2-702 Seller's remedies on discovery of buyer's insolvency.
.2-703 Seller's remedies in general.
.2-704 Seller's right to identify goods to the contract notwithstanding breach or to salvage unfinished goods.
.2-705 Seller's stoppage of delivery in transit or otherwise.
.2-706 Seller's resale including contract for resale.
.2-707 "Person in the position of a seller."
.2-708 Seller's damages for nonacceptance or repudiation.
.2-709 Action for the price.
.2-710 Seller's incidental damages.
.2-711 Buyer's remedies in general -- Buyer's security interest in rejected goods.
.2-712 "Cover" -- Buyer's procurement of substitute goods.
.2-713 Buyer's damages for nondelivery or repudiation.
.2-714 Buyer's damages for breach in regard to accepted goods.
.2-715 Buyer's incidental and consequential damages.
.2-716 Buyer's right to specific performance or replevin.
.2-717 Deduction of damages from the price.
.2-718 Liquidation or limitation of damages -- Deposits.
.2-719 Contractual modification or limitation of remedy.
.2-720 Effect of "cancellation" or "rescission" on claims for antecedent breach.
.2-721 Remedies for fraud.
.2-722 Who can sue third parties for injury to goods.
.2-723 Proof of market price: time and place.
.2-724 Admissibility of market quotations.
.2-725 Statute of limitations in contracts for sale.