§ 4-2-603 — Merchant buyer's duties as to rightfully rejected goods

Colorado § 4-2-603

• Jurisdiction: Colorado
• Title 04: Uniform
• Art.: Sales

Text

(1)
Subject to any security interest in the buyer (subsection (3) of section 4-2-711),
when the seller has no agent or place of business at the market of rejection a
merchant buyer is under a duty after rejection of goods in his possession or control
to follow any reasonable instructions received from the seller with respect to the
goods and in the absence of such instructions to make reasonable efforts to sell
them for the seller's account if they are perishable or threaten to decline in value
speedily. Instructions are not reasonable if on demand indemnity for expenses is
not forthcoming.

(2) When the buyer sells goods under subsection (1) of this section, he is
entitled to reimbursement from the seller or out of the proceeds for reasonable
expenses of caring for and selling them, and if the expenses include no selling
commission, then to such commission as is usual in the trade, or if there is none, to a
reasonable sum not exceeding ten percent on the gross proceeds.

(3) In complying with this section, the buyer is held only to good faith, and
good faith conduct hereunder is neither acceptance nor conversion nor the basis of
an action for damages.

Legislative History

Source: L. 65: p. 1328, � 1. C.R.S. 1963: � 155-2-603.