(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 [ 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]).
UCC Official Comments © by ALI & the NCCUSL. Reproduced with permission of the PEB for the UCC. All rights reserved.
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 reference. — Article 5, Section 2-506.
"Consignee". Section 7-102.
"Consignor". Section 7-102.
"Goods". Section 2-105.
"Security interest". Section 1-201.
"Seller". Section 2-103.