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This entry was published on 2014-09-22
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Action for the Price
Uniform Commercial Code (UCC) CHAPTER 38, ARTICLE 2, PART 7
Section 2--709. Action for the Price.

(1) When the buyer fails to pay the price as it becomes due the seller
may recover, together with any incidental damages under the next
section, 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
2--610), a seller who is held not entitled to the price under this
section shall nevertheless be awarded damages for non-acceptance under
the preceding section.