remedies for breach of sales and lease contracts

remedies for breach of sales and lease contracts - Ch 24...

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Ch 24 Liquated damages can’t be punitive, they have to be reasonable. Breach in UCC Article 2 Make non-breaching party whole Consequential damages when necessary Sellers Remedies Ex) I am in the business of selling a good, the buyer decides to tell him that he’s not going to buy the good even though he ordered it. If it’s a common good that can be sold to someone else then that’s fine, because you will just break the contract. However if you don’t pay the seller then you’re not going to get the purchase. So if I have to sell it to someone else at a discounted price instead of the original because you canceled, I can sue you for the difference in price. If the goods are in transit, if the breaching buyer is solvent I can stop delivery but only if it is in a large volume shipment. For instance, the whole truck, the whole train. Insolvent- is when the person can’t pay his bills; I can stop the UPS truck and get them to send back the goods to the seller, I can sue for the damages of having to pay
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remedies for breach of sales and lease contracts - Ch 24...

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