Kentucky Revised Statutes
Includes enactments through the 2024 Regular Session
The KRS database was last updated on 10/14/2024
.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.2-208 Repealed, 2006.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.