(1) A “person in the position of a seller” includes as against a principal an agent who has paid or become responsible for the price of goods on behalf of his principal or anyone who otherwise holds a security interest or other right in goods similar to that of a seller.
(2) A person in the position of a seller may as provided in this article withhold or stop delivery (section 28:2-705) and resell (section 28:2-706) and recover incidental damages (section 28:2-710).
(Dec. 30, 1963, 77 Stat. 666, Pub. L. 88-243, § 1.)
Prior Codifications1981 Ed., § 28:2-707.
1973 Ed., § 28:2-707.
Section ReferencesThis section is referenced in § 28:2-103, § 28:2-104, and § 28:2-706.
Uniform Commercial Code CommentPrior Uniform Statutory Provision: Section 52(2), Uniform Sales Act.
Changes: Rewritten.
Purposes of Changes: To make it clear that:
In addition to following in general the prior uniform statutory provision, the case of a financing agency which has acquired documents by honoring a letter of credit for the buyer or by discounting a draft for the seller has been included in the term “a person in the position of a seller.”
Cross Reference: Article 5, Section 2-506.
Definitional Cross References: “Consignee”. Section 7-102.
“Consignor”. Section 7-102.
“Goods”. Section 2-105.
“Security interest”. Section 1-201.
“Seller”. Section 2-103.