§ 2-709 — Action for the Price

New York § 2-709

• Jurisdiction: New York
• Law UCC: Uniform Commercial Code
• Part 7: Remedies
• Art. 2: Sales

Text

Section 2--709. Action for the Price.\n (1) When the buyer fails to pay the price as it becomes due the seller\nmay recover, together with any incidental damages under the next\nsection, the price\n (a) of goods accepted or of conforming goods lost or damaged\n within a commercially reasonable time after risk of their\n loss has passed to the buyer; and\n (b) of goods identified to the contract if the seller is unable\n after reasonable effort to resell them at a reasonable price\n or the circumstances reasonably indicate that such effort\n will be unavailing.\n (2) Where the seller sues for the price he must hold for the buyer any\ngoods which have been identified to the contract and are still in his\ncontrol except that if resale becomes possible he may resell them at any\ntime prior to the collection of the judgment. The net proceeds of any\nsuch resale must be credited to the buyer and payment of the judgment\nentitles him to any goods not resold.\n (3) After the buyer has wrongfully rejected or revoked acceptance of\nthe goods or has failed to make a payment due or has repudiated (Section\n2--610), a seller who is held not entitled to the price under this\nsection shall nevertheless be awarded damages for non-acceptance under\nthe preceding section.\n