Page:United States Statutes at Large Volume 47 Part 1.djvu/1242

 1218 72d C ONGRESS. SESS. II. CH. 128. F EBRUA RY 27, 1933 . Fornonacceptance. When seller may re- scind. Action for conver- sion, etc. For failure to deliver. the contract. But it shall be a defense to such an action that the seller at any time before judgment in such action has manifested an inability to perform the contract or the sale on his part or an intention not to p erform it. 3 . Although the property in the goods has not passed, if they can not readily be resold for a reasonable price, and if the provisions of subdivision four of section 660 are not applicable, the seller may offer to deliver t he goods to the bu yer, and if the bu yer refus es, to receive t hem, may notify th e buyer t hat the g oods are thereafte r held by the seller as bailee for the buyer. Thereafter the seller may treat the goods as the buyer's and may maintain an action for the price. SEC. 660. ACTION FOR DAMAGES FOR NONACCEPTANCE of THE GOODS .- 1 . Where the buyer wrongfully neglects or refuses to accept and pay for the goods, the seller may maintain an action against him for damages for nonacceptance. 2 . The measure of damages is the estimated loss directly and nat- urally resulting, in the ordinary course of events, from the buyer's breach of contract. 3 . Where there is an available market for the goods in question, the measure of damages is, in the absence of special circumstances, showing proximate damage of a greater amount, the difference between the contract price and the market or current price at the time or times when the goods ought to have been accepted, or, if no time was fixed for acceptance, they, at the time of the refusal to accept. 4 . If, while labor or expense of material amount are necessary on th e part of the sell er to ena ble him t o fulfil l his obl igations under the contract to sell or the sale, the buyer repudiates the contract or th e sale, o r notifie s the sel ler to pr oceed no further therewith, the buyer shall be liable to the seller for no greater damages than the seller would have suffered if he did nothing toward carrying out the contract or the sale after receiving notice of the buyer's repudiation or countermand. The profit the seller would have made if the contract or the sale had been fully performed shall be considered in estimating such damages. SEC. 661 . WHEN SELLER MAY RESCIND CONTRACT OR SALE :Where the goods have not been delivered to the buyer, and the buyer has repu- diated the contract to sell or sale, or has manifested his inability to perform his obligations thereunder, or has committed a material breach thereof, the seller may totally rescind the contract or the sale by giving notice of his election so to do to the buyer. SEC. 662 . ACTION FOR CONVERTING OR DETAINING GOODS :Where the property in the goods has passed to the buyer and the seller wrong- fully neglects or refuses to deliver the goods, the buyer may main- tain any action allowed by law to the owner of goods of similar kind when wrongfully conberted or withheld. SEC. 663 . ACTION FOR FAILING TO DELIVER GOODS .-1. Where the property in the goods has not passed to the buyer, and the seller wrongfully neglects or refuses to deliver the goods, the buyer may maintain an action against the seller for damages for nondelivery. 2 . The measure of damages is the loss directly and naturally result- ing in the ordinary course of events from the seller's breach of co ntract. 3 . Where there is. an available market for the goods in question, the measure of damages, in the absence of special circumstances showing proximate damages of a greater amount, is the difference between the contract price and the market or current price of the goods at the time or times when they ought to have been delivered, or, if no time was fixed, then at the time of the refusal to deliver.