Meuser Material & Equipment Company (Meuser) was a dealer in construction equipment. Meuser entered into an agreement

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Meuser Material & Equipment Company (Meuser) was a dealer in construction equipment. Meuser entered into an agreement with Joe McMillan for the sale of a bulldozer to McMillan. The agreement called for Meuser to deliver the bulldozer to McMillan’s residence in Greeley, Colorado. McMillan paid Meuser with a check. Before taking delivery, McMillan stopped payment on the check. Meuser entered into negotiations with McMillan in an attempt to get McMillan to abide by the sales agreement. During this period, Meuser paid for the upkeep of the bulldozer. When it became apparent that further negotiations would be fruitless, Meuser began looking for a new buyer. Fourteen months after the original sale was supposed to have taken place, the bulldozer was resold for less than the original contract price. Meuser sued McMillan to recover the difference between the contract price and the resale price as well as for the cost of upkeep on the bulldozer for 14 months. Who wins? McMillan v. Meuser Material & Equipment Company, 260 Ark. 422, 541 S. W. 2d 911, 1976 Ark. Lexis 1814 (Supreme Court of Arkansas)

Dealer
A dealer in the securities market is an individual or firm who stands ready and willing to buy a security for its own account (at its bid price) or sell from its own account (at its ask price). A dealer seeks to profit from the spread between the...
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