§490:2-706  Seller's resale including

contract for resale.  (1)  Under the conditions stated in section 490:2-703

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 490:2-710), 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 490:2-707) 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 490:2-711). [L

1965, c 208, §2-706; HRS §490:2-706]