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Can you summarize NHRS 382-A:9-320?
UNIFORM COMMERCIAL CODE > Buyer of Goods.
Short Summary
This legal document, part of the New Hampshire Revised Statutes, specifically the Uniform Commercial Code, governs the rights and obligations of buyers of goods. It outlines the circumstances under which a buyer in ordinary course of business or a buyer of consumer goods can take ownership of the goods free of any security interest created by the seller, even if the security interest is perfected and the buyer is aware of its existence. The document also provides an exemption for possessory security interests in goods that are in the possession of the secured party under Section 9-313. Additionally, it states that a buyer in ordinary course of business purchasing oil, gas, or other minerals at the wellhead or minehead takes ownership free of any encumbrance. No specific penalties are mentioned in this document.
Whom does it apply to?
Buyers in ordinary course of business, buyers of consumer goods, buyers in ordinary course of business at wellhead or minehead
What does it govern?
Buyer of Goods
What are exemptions?
Possessory security interest in goods in the possession of the secured party under Section 9-313
What are the Penalties?
No penalties mentioned
Jurisdiction
New Hampshire