resale


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resale

n. selling again, particularly at retail. In many states a "resale license" or "resale number" is required so that the state can monitor the collection of sales tax on retail sales.

resale

the legitimate selling of goods despite the fact that they have already been sold to another. Where an unpaid seller who has exercised his right of LIEN or RETENTION or STOPPAGE IN TRANSIT resells the goods, the buyer acquires a good title to them as against the original buyer. The legislation provides for two instances of resale. First, where the goods are of a perishable nature or where the unpaid seller gives notice to the buyer of his intention to resell and the buyer does not within a reasonable time pay or tender the price, the unpaid seller may resell the goods and recover from the original buyer damages for any loss occasioned by his breach of contract.

Secondly, where the seller expressly reserves the right of resale in case the buyer should make DEFAULT, and on the buyer making default resells the goods, the original contract of sale is rescinded but without prejudice to any claim the seller may have for damages.

RESALE. A second sale made of an article; as, for example, if A sell a horse to B, and the latter not having paid, for him, refuse to take him away, when by his contract he was bound to do so, and then A sells the horse to C.
     2. The effect of a resale, is not always to annul the first sale, because, as in this case, B would be liable to A for the difference of the price between the sale and resale. 4 Bing. 722; Blackb. on Sales, 336; 4 M. & G. 898.

References in periodicals archive ?
According to SRX Property, HDB resale market sentiment turned positive in June, and eased the downward pressure on resale prices.
The launch of our new website is a major step toward achieving our strategic vision of expanding our online presence and providing an unrivaled timeshare resale service experience," stated Sam Pontius, President of Fidelity Real Estate Agency.
On the seller's side, 75 percent of recent sellers surveyed were overall satisfied with their resale company.
We define "consumer online resale" as an online resale in which the products being resold were purchased mainly for self-use, not for resale.
According to the National Association of Resale & Thrift Shops (NARTS), there is a combined total of more than 15,000 resale, thrift, and consignment stores in the country.
The Department of Housing and Urban Development issued a final rule on property 'flipping" May 1 that sets the time restriction on FHA mortgage insurance to short-term resales occurring within 90 days following acquisition by the seller.
The application would include a recordable instrument creating a subordinate lien of 5% or 7% or the greater of the property's original purchase price, final resale price, or appraised value upon resale or refinancing.
If the resale market is "loose" and prices are affordable enough, there won't be as much new construction.
Average resale prices were up 16 percent in the statistical area covering Acton, Lake Hughes, Lake Elizabeth and Leona Valley, to $166,997, tops in the Antelope Valley, Holloway's study showed.
In summarizing the discussion of the uniform resale certificate, Mr.
The resale method typically is used in setting a transfer price in a distributorship context.
PITTSBURGH -- Black Box Corporation (NASDAQ: BBOX), an industry leading provider of voice communications, data infrastructure and product solutions, today announced a new five-year standard warranty on most remanufactured and repaired telephones sold through the Black Box Resale Services division.