N.Y. Uniform Commercial Code Law § 2-709: Action for the Price

Section 2--709. Action for the Price.

(1) When the buyer fails to pay the price as it becomes due the seller

may recover, together with any incidental damages under the next

section, the price

(a) of goods accepted or of conforming goods lost or damaged

within a commercially reasonable time after risk of their

loss has passed to the buyer; and

(b) of goods identified to the contract if the seller is unable

after reasonable effort to resell them at a reasonable price

or the circumstances reasonably indicate that such effort

will be unavailing.

(2) Where the seller sues for the price he must hold for the buyer any

goods which have been identified to the contract and are still in his

control except that if resale becomes possible he may resell them at any

time prior to the collection of the judgment. The net proceeds of any

such resale must be credited to the buyer and payment of the judgment

entitles him to any goods not resold.

(3) After the buyer has wrongfully rejected or revoked acceptance of

the goods or has failed to make a payment due or has repudiated (Section

2--610), a seller who is held not entitled to the price under this

section shall nevertheless be awarded damages for non-acceptance under

the preceding section.