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.
|