{"data":{"id":"us-nm/55-2-707","jurisdiction":"us-nm","citation":"55-2-707","heading":"\"Person in the position of a seller.\"","body":"(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.\n(2) A person in the position of a seller may as provided in this article withhold or stop delivery (Section 2-705 [55-2-705 NMSA 1978]) and resell (Section 2-706 [55-2-706 NMSA 1978]) and recover incidental damages (Section 2-710 [55-2-710 NMSA 1978]).\nOFFICIAL COMMENTS\nUCC Official Comments © by ALI \u0026 the NCCUSL. Reproduced with permission of the PEB for the UCC. All rights reserved.\nPrior uniform statutory provision. - Section 52(2), Uniform Sales Act.\nChanges. - Rewritten.\nPurposes of changes. - To make it clear that:\nIn 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.\"\nCross reference. - Article 5, Section 2-506.\n\"Consignee\". Section 7-102.\n\"Consignor\". Section 7-102.\n\"Goods\". Section 2-105.\n\"Security interest\". Section 1-201.\n\"Seller\". Section 2-103.","path":["Chapter 55 - Uniform Commercial Code","ARTICLE 2 Sales"],"source_url":"https://nmonesource.com/nmos/nmsa-unanno/en/item/18558/index.do","current_through":"2024-04-27","vintage":"","retrieved_at":"2026-09-03T15:02:20Z","sha256":"88d1609d1e4800a77d616e366d599660cacd62e27164be5faee64b70f2c4f5aa","source_id":"us-nm","stale":false,"prev":"us-nm/55-2-706","next":"us-nm/55-2-708"},"notice":"GroundRules: Original legal text. Not legal advice."}