Contracts for Sale of Goods (11:III): Difference between revisions
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Contracts for Sale of Goods (11:III) (view source)
Revision as of 06:37, 6 August 2021
, 6 August 2021→(3) The Right of Resale: ss 43(1) and 51
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The seller has the right to resell: | The seller has the right to resell: | ||
* If the goods are perishable, or if notice of an intention to resell is given to the buyer by the unpaid seller, and the buyer does not pay within a reasonable time. In this case, the seller may resell the goods and recover damages from the original buyer for any loss from the breach of contract (s 51(3)); | * a) If the goods are perishable, or if notice of an intention to resell is given to the buyer by the unpaid seller, and the buyer does not pay within a reasonable time. In this case, the seller may resell the goods and recover damages from the original buyer for any loss from the breach of contract (s 51(3)); | ||
* | * b) If the seller has expressly reserved the right to resell in the contract (s 51(4)). | ||
:'''NOTE:''' If the buyer defaults and the contract provides that the seller may resell the goods in that situation, the seller may still claim damages (s 51(4)). | :'''NOTE:''' If the buyer defaults and the contract provides that the seller may resell the goods in that situation, the seller may still claim damages (s 51(4)). | ||