Nebraska Uniform Commercial Code 2-707

UCC 2-707

2-707.

Person in the position of a seller.

(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.

(2) A person in the position of a seller may as provided in this article withhold or stop delivery (section 2-705) and resell (section 2-706) and recover incidental damages (section 2-710).

Source

  • Laws 1963, c. 544, Art. II, § 2-707, p. 1759.

Annotations

  • COMMENT

  • Prior Uniform Statutory Provision: Section 52(2), Uniform Sales Act.

  • Changes: Rewritten.

  • Purposes of Changes:

  • To make it clear that:

  • In 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".

  • Cross References:

  • Article 5 and section 2-506.

  • Definitional Cross References:

  • "Consignee". Section 7-102.

  • "Consignor". Section 7-102.

  • "Goods". Section 2-105.

  • "Security interest". Section 1-201.

  • "Seller". Section 2-103.