(a) If the buyer fails to pay the price as it becomes due, the seller may recover, together with any incidental damages under Alaska Stat. § 45.02.710, the price

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Terms Used In Alaska Statutes 45.02.709

  • buyer: means a person who buys or contracts to buy goods. See Alaska Statutes 45.02.103
  • Contract: A legal written agreement that becomes binding when signed.
  • Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
  • seller: means a person who sells or contracts to sell goods. See Alaska Statutes 45.02.103
(1) of goods accepted or of conforming goods lost or damaged within a commercially reasonable time after risk of their loss has passed to the buyer; and
(2) of goods identified to the contract if the seller is unable, after reasonable effort, to resell them at a reasonable price or the circumstances reasonably indicate that a reasonable effort will be unavailing.
(b) If the seller sues for the price, the seller must hold for the buyer goods that have been identified to the contract and are still in the control of the seller, except that if resale becomes possible the seller may resell them at any time before the collection of the judgment. The net proceeds of this resale must be credited to the buyer and payment of the judgment entitles the buyer to goods not resold.
(c) After the buyer has wrongfully rejected or revoked acceptance of the goods or has failed to make a payment due or has repudiated (Alaska Stat. § 45.02.610), a seller who is held not entitled to the price under this section shall nevertheless be awarded damages for nonacceptance under Alaska Stat. § 45.02.708.
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