The Vermont Statutes Online
The Statutes below include the actions of the 2025 session of the General Assembly.
NOTE: The Vermont Statutes Online is an unofficial copy of the Vermont Statutes Annotated that is provided as a convenience.
(Cite as: 9A V.S.A. § 2-706)
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§ 2—706. Seller’s resale including contract for resale
(1) Under the conditions stated in § 2—703 of this title on seller’s remedies, the seller may resell the goods concerned or the undelivered balance thereof. Where the resale is made in good faith and in a commercially reasonable manner the seller may recover the difference between the resale price and the contract price together with any incidental damages allowed under the provisions of this article (§ 2—710), but less expenses saved in consequence of the buyer’s breach.
(2) Except as otherwise provided in subsection (3) of this section or unless otherwise
agreed resale may be at public or private sale including sale by way of one or more
contracts to sell or of identification to an existing contract of the seller. Sale
may be as a unit or in parcels and at any time and place and on any terms but every
aspect of the sale including the method, manner, time, place and terms must be commercially
reasonable. The resale must be reasonably identified as referring to the broken contract,
but it is not necessary that the goods be in existence or that any or all of them
have been identified to the contract before the breach.
(3) Where the resale is at private sale the seller must give the buyer reasonable notification
of his or her intention to resell.
(4) Where the resale is at public sale:
(a) only identified goods can be sold except where there is a recognized market for a
public sale of futures in goods of the kind; and
(b) it must be made at a usual place or market for public sale if one is reasonably available
and except in the case of goods which are perishable or threaten to decline in value
speedily the seller must give the buyer reasonable notice of the time and place of
the resale; and
(c) if the goods are not to be within the view of those attending the sale the notification
of sale must state the place where the goods are located and provide for their reasonable
inspection by prospective bidders; and
(d) the seller may buy.
(5) A purchaser who buys in good faith at a resale takes the goods free of any rights
of the original buyer even though the seller fails to comply with one or more of the
requirements of this section.
(6) The seller is not accountable to the buyer for any profit made on any resale. A person in the position of a seller (§ 2—707) or a buyer who has rightfully rejected or justifiably revoked acceptance must account for any excess over the amount of his or her security interest, as hereinafter defined (§ 2—711(3)).