resale at purchaser's risk

resale at purchaser's risk
One of the modes of proceeding in a court of equity when a purchaser at a judicial sale, after confirmation, fails or refuses to complete his purchase. Under this mode of procedure, the court may order a resale of the property, holding the purchaser responsible for any deficiency. Hammond v Cailleaud, 111 Cal 206, 215, 43 P 607.

Ballentine's law dictionary. . 1998.

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