Page:United States Statutes at Large Volume 76A.djvu/247

–151– -151notice of the sale at least 5 days before the sale by publication in a newspaper having a general circulation within the Canal Zone. The seller may bid for the goods at the resale. § 1587. Resale at option of parties If the buyer has not paid at least 50 percent of the purchase price at the time of the retaking, the seller is not under a duty to resell the goods as prescribed by section 1586 of this title, unless the buyer serves upon the seller, within 10 days after the retaking, a written notice demanding a resale, delivered personally or by registered mail. If the notice is served, the resale shall take place within 30 days after the service, in the manner, at the place, and upon the notice prescribed by section 1586 of this title. The seller may voluntarily resell the goods for account of the buyer on compliance with the same requirements. § 1588. Proceeds of resale The proceeds of the resale shall be applied: (1) to the payment of the expenses thereof; i, (2) to the payment of the expenses of retaking, keeping and storing the goods; (3) to the satisfaction of the balance due under the contract. Any sums remaining after the satisfaction of those claims shall be paid to the buyer. § 1589. Deficiency on resale If the proceeds of the resale are not sufficient to defray the expenses thereof and the expenses of retaking, keeping, and storing the goods, and the balance due upon the purchase price, the seller may recover the deficiency from the buyer, or from any one who has succeeded to the obligations of the buyer. § 1590. Rights of parties where there is no resale If there is no resale the seller may retain the goods as his own roperty without obligation to account to the buyer except as provided y section 1592 of this title, and the buyer shall be discharged of all obligation. § 1591. Election of remedies After the retaking of possession as provided by section 1583 of this title the buyer is liable for the price only after a resale and only to the extent provided by section 1589 of this title. Neither the bringing of an action by the seller for the recovery of the whole or any part of the price, nor the recovery of judgment in such an action, nor the collection of a portion of the price, shall be deemed inconsistent with a later retaking of the goods as provided in section 1583 of this title. But a right of retaking may not be exercised by the seller after he has collected the entire price or after he has claimed a lien upon the goods, or attached them, or levied upon them as the goods of the buyer. § 1592. Recovery of part payments If the seller fails to comply with sections 1585-1588 and 1590 of this title, after retaking the goods, the buyer may recover from the seller his actual damages, if any, and in no event less than one-fourth of the sum of all payments which have been made under the contract, with interest. § 1593. Waiver of statutory protection An act or agreement of the buyer before or at the time of the making of the contract, or an agreement or statement by the buyer in the contract, does not constitute a valid waiver of sections 1585-1588 and

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