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Foundational Principles of Contract Law$
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Melvin A. Eisenberg

Print publication date: 2018

Print ISBN-13: 9780199731404

Published to Oxford Scholarship Online: October 2018

DOI: 10.1093/oso/9780199731404.001.0001

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Formulas for Measuring Expectation Damages for Breach of a Contract for the Sale of Goods

Formulas for Measuring Expectation Damages for Breach of a Contract for the Sale of Goods

Chapter:
(p.189) Fourteen Formulas for Measuring Expectation Damages for Breach of a Contract for the Sale of Goods
Source:
Foundational Principles of Contract Law
Author(s):

Melvin A. Eisenberg

Publisher:
Oxford University Press
DOI:10.1093/oso/9780199731404.003.0014

Chapter 14 concerns formulas for measuring expectation damages for breach of a contract for the sale of goods. If the buyer breaches one of three formulas may be used to measure the seller’s damages. If the seller resells the goods she should normally be entitled to the difference between the resale price and the contract price. If the seller does not resell the goods she should normally be entitled to recover the difference between the market price of the goods and the contract price. A third formula is based on the seller’s lost profit, measured by the difference between the seller’s variable costs of performance and the contract price. If the seller breaches one of three formulas may also be applied. If the goods are defective the buyer can recover damages for the defect. If the seller fails to deliver the goods the buyer can either cover and sue for cover damages or not cover and sue for market-prices damages. A buyer cannot sue for lost profits as direct or general damages, but can sue for lost profits if it was reasonably foreseeable when the contract was made that if the seller failed to deliver the goods the buyer would incur the lost profits.

Keywords:   sale of goods, market price, cost of performance, cover, lost profits

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