8.2-709 - Action for the price. - Virginia Statutes

§ 8.2-709. Action for the price.

(1) When the buyer fails to pay the price as it becomes due the seller mayrecover, together with any incidental damages under the next section [§8.2-710], the price

(a) of goods accepted or of conforming goods lost or damaged within acommercially reasonable time after risk of their loss has passed to thebuyer; and

(b) of goods identified to the contract if the seller is unable afterreasonable effort to resell them at a reasonable price or the circumstancesreasonably indicate that such effort will be unavailing.

(2) Where the seller sues for the price he must hold for the buyer any goodswhich have been identified to the contract and are still in his controlexcept that if resale becomes possible he may resell them at any time priorto the collection of the judgment. The net proceeds of any such resale mustbe credited to the buyer and payment of the judgment entitles him to anygoods not resold.

(3) After the buyer has wrongfully rejected or revoked acceptance of thegoods or has failed to make a payment due or has repudiated (§ 8.2-610), aseller who is held not entitled to the price under this section shallnevertheless be awarded damages for nonacceptance under the preceding section[§ 8.2-708].

(1964, c. 219.)