47-2603. Merchant buyer's duties as to rightfully rejected goods
A. Subject to any security interest in the buyer (subsection C of section 47-2711), when the seller has no agent or place of business at the market of rejection a merchant buyer is under a duty after rejection of goods in his possession or control to follow any reasonable instructions received from the seller with respect to the goods and in the absence of such instructions to make reasonable efforts to sell them for the seller's account if they are perishable or threaten to decline in value speedily. Instructions are not reasonable if on demand indemnity for expenses is not forthcoming.
B. When the buyer sells goods under subsection A of this section, he is entitled to reimbursement from the seller or out of the proceeds for reasonable expenses of caring for and selling them, and if the expenses include no selling commission then to such commission as is usual in the trade or if there is none to a reasonable sum not exceeding ten per cent on the gross proceeds.
C. In complying with this section the buyer is held only to good faith and good faith conduct hereunder is neither acceptance nor conversion nor the basis of an action for damages.
Section: Previous 47-2511 47-2512 47-2513 47-2514 47-2515 47-2601 47-2602 47-2603 47-2604 47-2605 47-2606 47-2607 47-2608 47-2609 47-2610 NextLast modified: October 13, 2016