2.402 – RIGHTS OF SELLER'S CREDITORS AGAINST SOLD GOODS.
Texas Business and Commerce Code § 2.402
Summary
This law outlines the rights of a seller's unsecured creditors regarding goods sold under a contract. It specifies that these creditors' rights are subordinate to the buyer's rights to recover the goods unless certain conditions apply, allowing creditors to void the sale under specific circumstances.
Unsecured creditors' rights are limited by buyer's recovery rights.
Creditors can void sales if seller retains possession.
Applies to goods identified in a sales contract.
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In simple terms: Learn about Texas's RIGHTS OF SELLER'S CREDITORS AGAINST SOLD GOODS. law, including definitions, penalties, and legal implications.. This means people must follow this rule, and breaking it can lead to criminal penalties.
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