§2-709. Action for the price

Link to law: http://legislature.vermont.gov/statutes/section/09A/002/00709
Published: 2015

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The Vermont Statutes Online



Uniform Commercial Code






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 (§ 2-610), a seller who is held not

entitled to the price under this section shall nevertheless be awarded damages

for nonacceptance under the preceding section.