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Resale On Default Of Buyer
RESALE ON DEFAULT OF BUYER
The bidding shall be kept open after the goods are struck down, and in case any buyer fails to comply with any of the conditions of sale set forth in this agreement, the goods so struck down to buyer shall be again put up for sale. Buyer shall be held liable for any deficiency between the price for which the goods are originally struck down on the sale and the price for which the goods may be purchased on a resale and for any costs or expenses incurred on the resale.
This is a UCC-buying and selling form.
It is intended to be an addendum to other forms.