Asked by Brianna Weidaman on Jul 19, 2024
Verified
If goods from a breached contract are resold at a public sale,the seller must:
A) give the buyer reasonable notification of its intention to resell.
B) hold the sale at a usual place or market for public sales if one is reasonably available.
C) give the buyer notice only if the goods are perishable.
D) give the buyer notice only of the public sale's location.
Breached Contract
occurs when one or more parties involved in a contract fail to fulfill their legal obligations, thus violating the agreement.
Public Sale
A sale conducted openly, where goods or assets are sold to the highest bidder, typically through an auction process.
Reasonable Notification
The requirement to provide timely and clear notice to another party as demanded by the circumstances or governed by agreement or law.
- Acquire knowledge of the obligations and privileges of parties in an instance of contract breach, encompassing the requirements for notice and resale.
Verified Answer
JH
Joshua HalonaJul 22, 2024
Final Answer :
B
Explanation :
If the resale is a public sale,such as an auction,the seller must give the buyer notice of the time and place of the sale unless the goods are perishable or threaten to decline in value rapidly.The sale must be made at a usual place or market for public sales if one is reasonably available;if the goods are not within the view of those attending the sale,the notification of the sale must state the place where the goods are located and provide for reasonable inspection by prospective bidders.The seller may bid at a public sale [2-706(4)].
Learning Objectives
- Acquire knowledge of the obligations and privileges of parties in an instance of contract breach, encompassing the requirements for notice and resale.