N.Y. Uniform Commercial Code Law § 2-510: Effect of Breach on Risk of Loss

Section 2--510. Effect of Breach on Risk of Loss.

(1) Where a tender or delivery of goods so fails to conform to the

contract as to give a right of rejection the risk of their loss remains

on the seller until cure or acceptance.

(2) Where the buyer rightfully revokes acceptance he may to the extent

of any deficiency in his effective insurance coverage treat the risk of

loss as having rested on the seller from the beginning.

(3) Where the buyer as to conforming goods already identified to the

contract for sale repudiates or is otherwise in breach before risk of

their loss has passed to him, the seller may to the extent of any

deficiency in his effective insurance coverage treat the risk of loss as

resting on the buyer for a commercially reasonable time.