§ 25-2-709. Action for the price. - North Carolina Statutes

§25‑2‑709.  Action for the price.

(1)        When the buyerfails to pay the price as it becomes due the seller may recover, together withany incidental damages under the next section [G.S. 25‑2‑710], theprice

(a)        of goods accepted orof conforming goods lost or damaged within a commercially reasonable time afterrisk of their loss has passed to the buyer; and

(b)        of goods identifiedto the contract if the seller is unable after reasonable effort to resell themat a reasonable price or the circumstances reasonably indicate that such effortwill be unavailing.

(2)        Where the sellersues for the price he must hold for the buyer any goods which have beenidentified to the contract and are still in his control except that if resalebecomes possible he may resell them at any time prior to the collection of thejudgment. The net proceeds of any such resale must be credited to the buyer andpayment of the judgment entitles him to any goods not resold.

(3)        After the buyer haswrongfully rejected or revoked acceptance of the goods or has failed to make apayment due or has repudiated (G.S. 25‑2‑610), a seller who is heldnot entitled to the price under this section shall nevertheless be awardeddamages for nonacceptance under the preceding section [G.S. 25‑2‑708].(1965, c. 700, s. 1.)