LD 2245
pg. 469
Page 468 of 493 An Act to Adopt the Model Revised Article 9 Secured Transactions Page 470 of 493
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LR 1087
Item 1

 
Official Comment

 
3. The legal remedy of replevin is given to the buyer in
cases in which cover is reasonably unavailable and goods have
been identified to the contract. This is in addition to the
buyer's right to recover identified goods on the seller's
insolvency (Section 2-502) under Section 2-502. For consumer
goods, the buyer's right to replevin vests upon the buyer's
acquisition of a special property, which occurs upon
identification of the goods to the contract.__See Section 2501.__
Inasmuch as a secured party normally acquires no greater rights
in its collateral that its debtor had or had power to convey, see
Section 2-403(1) (first sentence), a buyer who acquires a right
of replevin under subsection (3) will take free of a security
interest created by the seller if it attaches to the goods after
the goods have been identified to the contract.__The buyer will
take free, even if the buyer does not buy in ordinary course and
even if the security interest is perfected.__Of course, to the
extent that the buyer pays the price after the security interest
attaches, the payments will constitute proceeds of the security
interest.

 
Sec. B-11. 11 MRSA §2-1103, sub-§(3), as enacted by PL 1991, c. 805, §4,
is amended to read:

 
(3) The following definitions in other Articles apply to this
Article:

 
"Account." Section 9-106 9-1102,

 
subsection (2).

 
"Between merchants." Section 2-104, subsection (3).

 
"Buyer." Section 2-103, subsection (1),

 
paragraph (a).

 
"Chattel paper." Section 9-105 9-1102, subsection

 
(1), paragraph (b) (11).

 
"Consumer goods." Section 9-109 9-1102, subsection

 
(1) (23).

 
"Document." Section 9-105 9-1102, subsection

 
(1), paragraph (f) (30).

 
"Entrusting." Section 2-403, subsection (3).

 
"General intangiblesSection 9-106 9-1102, subsection

 
intangible." (42).


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