2.505 – SELLER'S SHIPMENT UNDER RESERVATION. (a) Where
Texas Business and Commerce Code § 2.505
Summary
This law allows sellers to reserve a security interest in goods they ship by obtaining a negotiable bill of lading. It clarifies how the seller's rights are maintained during the shipment process, particularly in relation to financing agencies or buyers.
Sellers can reserve security interest through a negotiable bill of lading.
Indicates seller's intention to transfer interest to named parties.
Applies to both negotiable and non-negotiable bills of lading.
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In simple terms: Learn about Texas's SELLER'S SHIPMENT UNDER RESERVATION. (a) Where 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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