{"data":{"id":"us-ky/krs-355.2-706","jurisdiction":"us-ky","citation":"KRS 355.2-706","heading":"Seller's resale including contract for resale.","body":"(1) Under the conditions stated in KRS 355.2 -703 on seller's remedies, the seller may\nresell the goods concerned or the undelivered balance thereof. Where the resale is\nmade in good faith and in a commercially reasonable manner the seller may recover\nthe diffe rence between the resale price and the contract price together with any\nincidental damages allowed under the provisions of this article (KRS 355.2 -710),\nbut less expenses saved in consequence of the buyer's breach.\n(2) Except as otherwise provided in subse ction (3) or unless otherwise agreed resale\nmay be at public or private sale including sale by way of one (1) or more contracts\nto sell or of identification to an existing contract of the seller. Sale may be as a unit\nor in parcels and at any time and place and on any terms but every aspect of the sale\nincluding the method, manner, time, place and terms must be commercially\nreasonable. The resale must be reasonably identified as referring to the broken\ncontract, but it is not necessary that the goods be in existence or that any or all of\nthem have been identified to the contract before the breach.\n(3) Where the resale is at private sale the seller must give the buyer reasonable\nnotification of his intention to resell.\n(4) Where the resale is at public sale\n(a) only identified goods can be sold except where there is a recognized market\nfor a public sale of futures in goods of the kind; and\n(b) it must be made at a usual place or market for public sale if one is reasonably\navailable and except in the case of go ods which are perishable or threaten to\ndecline in value speedily the seller must give the buyer reasonable notice of\nthe time and place of the resale; and\n(c) if the goods are not to be within the view of those attending the sale the\nnotification of sale must state the place where the goods are located and\nprovide for their reasonable inspection by prospective bidders; and\n(d) the seller may buy.\n(5) A purchaser who buys in good faith at a resale takes the goods free of any rights of\nthe original buyer even though the seller fails to comply with one (1) or more of the\nrequirements of this section.\n(6) The seller is not accountable to the buyer for any profit made on any resale. A\nperson in the position of a seller (KRS 355.2 -707) or a buyer who has rightful ly\nrejected or justifiably revoked acceptance must account for any excess over the\namount of his security interest, as hereinafter defined (subsection (3) of KRS 355.2-\n711).","path":[],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=33328","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:58:42Z","sha256":"71c250d3fd1038f0d9989e41ff02028856541b66b293e645990ccf203ddf1d31","source_id":"us-ky","stale":false,"prev":"us-ky/krs-355.2-705","next":"us-ky/krs-355.2-707"},"notice":"GroundRules: Original legal text. Not legal advice."}