Page:United States Statutes at Large Volume 76A.djvu/246

–150– -150§ 1583. Retaking possession . ':. ^ When the buyer is in default in the payment of a sum due under the contract, or in the performance of any other condition which the contract requires him to perform in order to obtain the property in the goods, or in the performance of any promise, the breach of which is by the contract expressly made a ground for the retaking of the goods, the seller may retake possession thereof. Unless the goods can Be retaken without breach of the peace, they shall be retaken by legal )rocess; but this section does not authorize a violation of the criminal aw. § 1584. Notice of intention to retake Not more than 40 nor less than 20 days prior to the retaking, the seller, if he so desires, may serve upon the buyer personally or by registered mail a notice of intention to retake the goods on account of the buyer's default. The notice shall state the default and the period at the end of which the goods will be retaken, and shall briefly and clearly state what the buyer's rights under this chapter will be in case they are retaken. If the notice is so served and the buyer does not perform the obligations in which he has made default before the day set for retaking, the seller may retake the goods and hold them subject to sections 1586-1590 of this title regarding resale, but without a right of redemption.

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§ 1585. Redemption If the seller does not give the notice of intention to retake provided for by section 1584 of this title, he shall retain the goods for 10 days after the retaking within the Canal Zone, during which period the buyer, upon payment or tender of the amount due under the contract at the time of retaking and interest, or upon performance or tender of performance of such other condition as may be named in the contract as precedent to the passage of the property in the goods, or upon performance or tender of performance of any other promise for the breach of which the goods were retaken, and upon payment of the expenses of retaking, keeping, and storage, may redeem the goods and become entitled to take possession of them and to continue in the performance of the contract as if a default had not occurred. Upon written demand delivered personally or by registered mail by the buyer, the seller shall furnish to the buyer a written statement of the sum due under the contract and the expense of retaking, keeping, and storage. For failure to furnish such a statement within a reasonable time after demand, the seller shall forfeit to the buyer $10 and also be liable to him for all damages suffered because of the failure. If the goods are perishable so that retention for 10 days as herein prescribed would result in their destruction or substantial injurj', this section does not apply, and the seller may resell the goods immediately upon their retaking. § 1586. Compulsory resale by seller If the buyer does not redeem the goods within 10 days after the seller has retaken possession, and the buyer has paid at least 50 per centum of the purchase price at the time of the retaking the seller shall sell them at public auction in the Canal Zone, the sale to be held not more than 30 days after the retaking. The seller shall give to the buyer not less than 10 days' written notice of the sale, either personally or by registered mail, directed to the buyer at his last known place of business or residence. The seller shall also give notice of the sale by at least 3 notices posted in different public places within the Canal ZJone, at least 5 days before the sale. If at the time of the retaking $500 or more has been paid on the purchase price, the seller shall also give

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