§ 4-2-709 — Action for the price

Colorado § 4-2-709

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

Text

(1) When the buyer fails to pay the price as it
becomes due, the seller may recover, together with any incidental damages under
section 4-2-710, the price:

(a) Of goods accepted or of conforming goods lost or damaged within a
commercially reasonable time after risk of their loss has passed to the buyer; and

(b) Of goods identified to the contract if the seller is unable after reasonable
effort to resell them at a reasonable price or the circumstances reasonably indicate
that such effort will be unavailing.

(2) Where the seller sues for the price, he must hold for the buyer any goods
which have been identified to the contract and are still in his control; except, that if
resale becomes possible he may resell them at any time prior to the collection of
the judgment. The net proceeds of any such resale must be credited to the buyer
and payment of the judgment entitles him to any goods not resold.

(3) After the buyer has wrongfully rejected or revoked acceptance of the
goods or has failed to make a payment due or has repudiated (section 4-2-610), a
seller who is held not entitled to the price under this section shall nevertheless be
awarded damages for nonacceptance under section 4-2-708.

Legislative History

Source: L. 65: p. 1338, � 1. C.R.S. 1963: � 155-2-709.