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§12A-2-706.
§12A-2-706.
(1) Under the conditions stated in Section 2-703 on seller's remedies,
the seller may resell the goods concerned or the undelivered balance
thereof. Where the resale is made in good faith and in a commercially
reasonable manner the seller may recover the difference between the
resale price and the contract price together with any incidental
damages allowed under the provisions of this article (Section 2-710),
but less expenses saved in consequence of the buyer's breach.
(2) Except as otherwise provided in subsection (3) or unless otherwise
agreed resale may be at public or private sale including sale by way
of one or more contracts to sell or of identification to an existing
contract of the seller. Sale may be as a unit or in parcels and at any
time and place and on any terms but every aspect of the sale including
the method, manner, time, place and terms must be commercially
reasonable. The resale must be reasonably identified as referring to
the broken contract, but it is not necessary that the goods be in
existence or that any or all of them have been identified to the
contract before the breach.
(3) Where the resale is at private sale the seller must give the buyer
reasonable notification of his intention to resell.
(4) Where the resale is at public sale
(a) only identified goods can be sold except where there is a
recognized market for a public sale of futures in goods of the kind;
and
(b) it must be made at a usual place or market for public sale if one
is reasonably available and except in the case of goods which are
perishable or threaten to decline in value speedily the seller must
give the buyer reasonable notice of the time and place of the resale;
and
(c) if the goods are not to be within the view of those attending the
sale the notification of sale must state the place where the goods are
located and provide for their reasonable inspection by prospective
bidders; and
(d) the seller may buy.
(5) A purchaser who buys in good faith at a resale takes the goods
free of any rights of the original buyer even though the seller fails
to comply with one or more of the requirements of this section.
(6) The seller is not accountable to the buyer for any profit made on
any resale. A person in the position of a seller (Section 2-707) or a
buyer who has rightfully rejected or justifiably revoked acceptance
must account for any excess over the amount of his security interest,
as hereinafter defined (subsection (3) of Section 2-711).
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