Okla. Stat. tit. 12A, § 12A-2-603
This is the official text of Okla. Stat. tit. 12A, § 12A-2-603, part of Oklahoma’s Stat. tit. 12A, — part of the compiled statutory law of Oklahoma, published by the state as "Stat. tit. 12A,." Browse the sections below, each linked to its official government source.
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Merchant Buyer's Duties as to Rightfully Rejected
Official statutory text
Goods.
(1) Subject to any security interest in the buyer (subsection
(3) of Section 2-711), when the seller has no agent or place of
business at the market of rejection a merchant buyer is under a duty
after rejection of goods in his possession or control to follow any
reasonable instructions received from the seller with respect to the
goods and in the absence of such instructions to make reasonable
efforts to sell them for the seller's account if they are perishable
or threaten to decline in value speedily. Instructions are not
reasonable if on demand indemnity for expenses is not forthcoming.
(2) When the buyer sells goods under subsection (1), he is
entitled to reimbursement from the seller or out of the proceeds for
reasonable expenses of caring for and selling them, and if the
expenses include no selling commission then to such commission as is
usual in the trade or if there is none to a reasonable sum not
exceeding ten percent (10%) on the gross proceeds.
(3) In complying with this section the buyer is held only to
good faith and good faith conduct hereunder is neither acceptance
nor conversion nor the basis of an action for damages.
(1) Subject to any security interest in the buyer (subsection
(3) of Section 2-711), when the seller has no agent or place of
business at the market of rejection a merchant buyer is under a duty
after rejection of goods in his possession or control to follow any
reasonable instructions received from the seller with respect to the
goods and in the absence of such instructions to make reasonable
efforts to sell them for the seller's account if they are perishable
or threaten to decline in value speedily. Instructions are not
reasonable if on demand indemnity for expenses is not forthcoming.
(2) When the buyer sells goods under subsection (1), he is
entitled to reimbursement from the seller or out of the proceeds for
reasonable expenses of caring for and selling them, and if the
expenses include no selling commission then to such commission as is
usual in the trade or if there is none to a reasonable sum not
exceeding ten percent (10%) on the gross proceeds.
(3) In complying with this section the buyer is held only to
good faith and good faith conduct hereunder is neither acceptance
nor conversion nor the basis of an action for damages.
Status: in_force · Read it on the official government site
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