N.Y. Uniform Commercial Code Law § 2-603: Merchant Buyer's Duties as to Rightfully Rejected Goods

Section 2--603. Merchant Buyer's Duties as to Rightfully Rejected Goods.

(1) Subject to any security interest in the buyer (subsection (3) of

Section 2--711), 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.

(2) When the buyer sells goods under subsection (1), 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.

(3) 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.