CHAPTER 25

CHAPTER 25 - CHAPTER SUMMARY Remedies of the Seller Buyer's...

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CHAPTER SUMMARY Remedies of the Seller Buyer’s Default the seller’s remedies are triggered by the buyer’s actions in wrongfully rejecting or revoking acceptance of the goods, in failing to make payment due on or before delivery, or in repudiating the contract To Withhold Delivery To Stop Delivery if the buyer is insolvent (one who is unable to pay his debts as they become due or one whose total liabilities exceed his total assets), the seller may stop any delivery; if the buyer repudiates or otherwise breaches, the seller may stop carload, truckload, planeload, or larger shipments To Identify Goods To Resell the Goods the seller may resell the goods concerned or the undelivered balance of the goods and recover the difference between the contract price and the resale price, together with any incidental damages, less expenses saved Type of Resale may be public or private Manner of Resale must be made in good faith and in a commercially reasonable manner To Recover Damages for Nonacceptance or Repudiation Mann CH 25- 1
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Market Price Differential the seller may recover damages from the buyer measured by the difference between the unpaid contract price and the market price at the time and place of tender of the goods, plus incidental damages, less expenses saved
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This note was uploaded on 10/14/2010 for the course BUS 5503 taught by Professor Sorrell during the Fall '10 term at Troy.

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CHAPTER 25 - CHAPTER SUMMARY Remedies of the Seller Buyer's...

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