810 ILCS 5/2-326

Current through Public Acts 103-1 through 103-587, 103-589, and 103-590
Section 810 ILCS 5/2-326 - Sale on approval and sale or return; consignment sales and rights of creditors
(1) Unless otherwise agreed, if delivered goods may be returned by the buyer even though they conform to the contract, the transaction is (a) a "sale on approval" if the goods are delivered primarily for use, and (b) a "sale or return" if the goods are delivered primarily for resale.
(2) Goods held on approval are not subject to the claims of the buyer's creditors until acceptance; goods held on sale or return are subject to such claims while in the buyer's possession.
(3) Any "or return" term of a contract for sale is to be treated as a separate contract for sale within the statute of frauds section of this Article (Section 2--201) and as contradicting the sale aspect of the contract within the provisions of this Article on parol or extrinsic evidence (Section 2--202).

810 ILCS 5/2-326

Laws 1961, p. 2101; 91-893, eff. 7-1-01.