CONTEMPORARY BUSINESS LAW

Law
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What are the remedies for contract breach available under UCC Article 2?

Jan 26th, 2015

When a party to a contract breaches the contract—perhaps a seller does not deliver the ordered goods, or a buyer does not make full payment for delivered goods—then the non-breaching party generally is entitled to some compensation, restitution, or “remedy” for the breach. Article 2 provides sections on both seller’s remedies (Section 2-703 lists such general remedies as withholding or stopping delivery of goods, reclaiming goods, cancelling orders, or obtaining “specific performance”) and buyer’s remedies (Section 2-711 lists such general remedies as recovering the price paid for undelivered goods, deducting damages from any amount still due, cancelling orders, or obtaining “specific performance”). The sections on remedies in Article 2 are rather extensive; those listed here just scratch the surface.

Jan 26th, 2015

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Jan 26th, 2015
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Jan 26th, 2015
Dec 8th, 2016
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