What is Resale?

Legal Definition
A second sale made of an article; as, for example, if A sell a horse to B, and the latter not having paid, for him, refuse to take him away, when by his contract he was bound to do so, and then A sells the horse to C.

2. The effect of a resale, is not always to annul the first sale, because, as in this case, B would be liable to A for the difference of the price between the sale and resale. 4 Bing. 722; Blackb. on Sales, 336; 4 M. & G. 898.
-- Bouviers Law Dictionary
Legal Definition
Where a person who has sold goods or other property to a purchaser sells them again to some one else. Sometimes a vendor reserves the right of reselling If the purchaser commits default in payment of the purchase money, and in some cases (e. g., on a sale of perishable articles) the vendor may do so without having reserved the right Sweet.
-- Black's Law Dictionary