355.2-709 Action for the price.
(1)
(2)
(3)
When the buyer fails to pay the price as it becomes due the seller may recover,
together with any incidental damages under KRS 355.2-710, 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.
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.
After the buyer has wrongfully rejected or revoked acceptance of the goods or has
failed to make a payment due or has repudiated (KRS 355.2-610), a seller who is
held not entitled to the price under this section shall nevertheless be awarded
damages for nonacceptance under the preceding section.
Effective: July 1, 1960
History: Created 1958 Ky. Acts ch. 77, sec. 2-709, effective July 1, 1960.
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