Iowa Code

Iowa Code § 554.2706 (2026)

Seller’s resale including contract for resale

✓ current as of July 2026

Find cases: SyfertCases citing this section IA-LEGlegis.iowa.gov JustiaTitle on Justia CornellLII Search CasesGoogle Scholar

1. Under the conditions stated in section 554.2703 on seller’s remedies, the seller may resell the goods concerned or the undelivered balance thereof. Where the resale is made in good faith and in a commercially reasonable manner the seller may recover the difference between the resale price and the contract price together with any incidental damages allowed under the provisions of this Article (section 554.2710), but less expenses saved in consequence of the buyer’s breach.

Tue Dec 09 22:02:40 2025 Iowa Code 2026, Chapter 554 (108, 4) §554.2706, UNIFORM COMMERCIAL CODE 50\n\n 2. Except as otherwise provided in subsection 3 or unless otherwise agreed resale may be at public or private sale including sale by way of one or more contracts to sell or of identification to an existing contract of the seller. Sale may be as a unit or in parcels and at any time and place and on any terms but every aspect of the sale including the method, manner, time, place and terms must be commercially reasonable. The resale must be reasonably identified as referring to the broken contract, but it is not necessary that the goods be in existence or that any or all of them have been identified to the contract before the breach. 3. Where the resale is at private sale the seller must give the buyer reasonable notification of the seller’s intention to resell. 4. Where the resale is at public sale a. only identified goods can be sold except where there is a recognized market for a public sale of futures in goods of the kind; and b. it must be made at a usual place or market for public sale if one is reasonably available and except in the case of goods which are perishable or threaten to decline in value speedily the seller must give the buyer reasonable notice of the time and place of the resale; and c. if the goods are not to be within the view of those attending the sale the notification of sale must state the place where the goods are located and provide for their reasonable inspection by prospective bidders; and d. the seller may buy. 5. A purchaser who buys in good faith at a resale takes the goods free of any rights of the original buyer even though the seller fails to comply with one or more of the requirements of this section. 6. The seller is not accountable to the buyer for any profit made on any resale. A person in the position of a seller (section 554.2707) or a buyer who has rightfully rejected or justifiably revoked acceptance must account for any excess over the amount of that person’s security interest, as hereinafter defined (section 554.2711, subsection 3). [C24, 27, 31, 35, 39, §9989; C46, 50, 54, 58, 62, §554.61; C66, 71, 73, 75, 77, 79, 81, §554.2706] 2015 Acts, ch 29, §98 Referred to in §554.2703, 554.2707, 554.2711, 554.2718

Notes of Decisions

Cited in 8 cases (1 in the last 5 years), 1973–2021 · leading case: Purina Mills, L.L.C. v. Less, 295 F. Supp. 2d 1017 (N.D. Iowa 2003).

Sort: Relevance Newest Treatment

Purina Mills, L.L.C. v. Less, 295 F. Supp. 2d 1017 (N.D. Iowa 2003). · cites it 2× “resell and recover damages as hereafter provided (section 554.2706) e. recover damages for nonacceptance (section 554.”

Twin Bridges Truck City, Inc. v. Halling, 205 N.W.2d 736 (Iowa 1973). · cites it 3× “Section 554.2706, The Code, provides in pertinent part: “(1) Under the conditions stated in Section 554.”

John Deere Leasing Co. v. Fraker, 395 N.W.2d 885 (Iowa 1986). · cites it 2× “Iowa Code Ann. § 554.2706 , Uniform Commercial Code Comment (4) (West 1967) (in choosing between a public and private sale in the context of resale of goods after contract breach, “the character of the goods must be considered and relevant trade practices and usages must be…”

Monahan Loan Serv., Inc. v. Janssen, 349 N.W.2d 752 (Iowa 1984). · cites it 2× “Section 554.2706(1) does make sale “in good faith and a commercially reasonable manner” a condition precedent for recovery of the unpaid balance of the contract price from a defaulting buyer.”

John Deery Motors, Inc. v. Steinbronn, 383 N.W.2d 553 (Iowa 1986). · cites it 2× “2706 uniform commercial code comment (4) (West 1967) (concerning seller’s resale of goods wrongfully rejected by buyer; public sale is “sale by auction” whereas private sale “may be effected by solicitation and negotiation conducted either directly or through a broker”). These…”

Whewell v. Dobson, 227 N.W.2d 115 (Iowa 1975). · cites it 2× “It is apparent, then, the given circumstances in a case must be taken into account in determining reasonableness. Unfortunately, there is no definite date of record indicating when plaintiff first attempted to resell.”

Rexing Quality Eggs v. Rembrandt Enter., Inc., 360 F. Supp. 3d 817 (S.D. Ind. 2018). “Therefore, Rembrandt was not precluded from substituting loads from other sources to calculate its damages pursuant to that remedy election, though whether the sales were commercially reasonable; whether Rembrandt's damages calculations properly accounted for "expenses saved in…”

Rexing Quality Eggs v. Rembrandt Enter., Inc. (7th Cir. 2021). · cites it 5× “The district court properly concluded that the resale remedy under Iowa’s version of the Uniform Com- mercial Code (“UCC”), Iowa Code § 554.2706 , was the ap- propriate mechanism for calculating Rembrandt’s damages.”

— Iowa Code § 554.2706(1) — 1 case

Monahan Loan Serv., Inc. v. Janssen, 349 N.W.2d 752 (Iowa 1984). “Section 554.2706(1) does make sale “in good faith and a commercially reasonable manner” a condition precedent for recovery of the unpaid balance of the contract price from a defaulting buyer.”

— Iowa Code § 554.2706(3) — 1 case

Twin Bridges Truck City, Inc. v. Halling, 205 N.W.2d 736 (Iowa 1973). “Section 554.2706, The Code, provides in pertinent part: “(1) Under the conditions stated in Section 554.”

Annotations are extracted automatically from the opinions in the Syfert caselaw corpus and ranked by authority, recency, and treatment. Dots show Syfertize treatment of the citing case itself.