Resale - sustany/dvg GitHub Wiki

Resale is sale of property previously purchased. In the commercial context, the reseller commonly purchases the property from a manufacturer or wholesaler with the intent to resell the property for a profit. In this context, if the buyer breaches the resale contract, then, under the Uniform Commercial Code � 2�706, the seller may resell the goods to another buyer as a remedy. Resale is found in many other contexts, though, such as real estate or investment transactions. Regarding tax considerations of resales, under the Internal Revenue Code � 1001, gains from the resale of property may be considered taxable income.�