Exam 23: Sales Remedies

The recovery for a lessee's wrongful repudiation of a lease is the difference between the present values of the old rent due under the original lease and the market rent.

A buyer who does not cover is precluded from consequential damages that could have been prevented if the buyer did obtain cover.

Under the CISG, if the buyer fails to perform any obligations, the seller may either require the buyer to pay the price or fix an additional period of time for the buyer to perform.

Under the Code, what rights do the parties have to affect the possible remedies available in the case of breach?

Article 2A authorizes liquidated damages payable by either party for default or any other act or omission.

Tom breached a sales contract to purchase goods from Jim. In addition to other remedies available, Jim may be able to recover commercially reasonable expenses incurred as a result of the breach. These expenses are:

A seller's incidental damages for a buyer's breach would include all but which one of the following?

Which of the following is not a remedy available to an unpaid seller against the buyer?

Under the CISG, if the contract is avoided and the seller has resold the goods in a reasonable manner and within a reasonable time after avoidance, the seller may recover:

Robert paid William $1,000 for a rare first edition of an Edgar Allen Poe novel. The sales contract states that the book is to be delivered within ten days. William, however, refused to deliver the book as promised. In order to sue for specific performance under the UCC, Robert must prove that money damages will not be adequate compensation for his loss.

When existing goods are identified to the contract of sale, the buyer acquires a special property interest in the goods.

The availability of some buyer's remedies depends on the buyer's actions.

Under the CISG, what are the damages for breach of contract by one party? Does the aggrieved party have any responsibilities after the breach occurs?

If the buyer received goods on credit while he was insolvent by misrepresenting his solvency in writing within three months prior to deliver of the goods, the seller is able to reclaim the goods only if the seller makes a demand on the buyer within ten days after the buyer has received the goods.

Under the CISG, if the buyer fails to perform contractual obligations, the seller may require the buyer to:

Since the purpose of remedies under the Code is compensation, punitive damages are generally available.

The Code's remedies are cumulative, therefore, a seller may both withhold delivery of the goods and identify goods to the contract.

A seller has breached his contract by providing unfit seed for the planting of beans. Damages would include:

If the seller has the right to cancel, he may recover damages for breach without having to tender any further performance.

Damages a buyer may recover for loss resulting from requirements, the needs of which the seller had reason to know at the time of contracting and which could not reasonably be prevented by cover, are: