NMSA 55-2-707. "Person in the position of a seller."

55-2-707. "Person in the position of a seller." (1) A "person in the position of a seller" includes as against a principal an agent who has paid or become responsible for the price of goods on behalf of his principal or anyone who otherwise holds a security interest or other right in goods similar to that of a seller. (2) A person in the position of a seller may as provided in this article withhold or stop delivery (Section 2-705 [55-2-705 NMSA 1978]) and resell (Section 2-706 [55-2-706 NMSA 1978]) and recover incidental damages (Section 2-710 [55-2-710 NMSA 1978]). History: 1953 Comp., § 50A-2-707, enacted by Laws 1961, ch. 96, § 2-707. OFFICIAL COMMENTS UCC Official Comments © by ALI & the NCCUSL. Reproduced with permission of the PEB for the UCC. All rights reserved. Prior uniform statutory provision. — Section 52(2), Uniform Sales Act. Changes. — Rewritten. Purposes of changes. — To make it clear that: In addition to following in general the prior uniform statutory provision, the case of a financing agency which has acquired documents by honoring a letter of credit for the buyer or by discounting a draft for the seller has been included in the term "a person in the position of a seller." Cross reference. — Article 5, Section 2-506. "Consignee". Section 7-102. "Consignor". Section 7-102. "Goods". Section 2-105. "Security interest". Section 1-201. "Seller". Section 2-103.