2006 New York Code - Seller\'s Resale Including Contract For Resale.

 
  Section 2--706. Seller's Resale Including Contract for Resale.
    (1)  Under  the  conditions  stated  in  Section  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
  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 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 2--711).