Kentucky Statutes 355.2-713 – Buyer’s damages for nondelivery or repudiation
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(1) Subject to the provisions of this article with respect to proof of market price (KRS
355.2-723), the measure of damages for nondelivery or repudiation by the seller is the difference between the market price at the time when the buyer learned of the breach and the contract price together with any incidental and consequential damages provided in this article (KRS 355.2-715), but less expenses saved in consequence of the seller’s breach.
(2) Market price is to be determined as of the place for tender or, in cases of rejection after arrival or revocation of acceptance, as of the place of arrival.
Effective: July 1, 1960
History: Created 1958 Ky. Acts ch. 77, sec. 2-713, effective July 1, 1960.
355.2-723), the measure of damages for nondelivery or repudiation by the seller is the difference between the market price at the time when the buyer learned of the breach and the contract price together with any incidental and consequential damages provided in this article (KRS 355.2-715), but less expenses saved in consequence of the seller’s breach.
Terms Used In Kentucky Statutes 355.2-713
- Buyer: means a person who buys or contracts to buy goods. See Kentucky Statutes 355.2-103
- Contract: A legal written agreement that becomes binding when signed.
- Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
- Seller: means a person who sells or contracts to sell goods. See Kentucky Statutes 355.2-103
(2) Market price is to be determined as of the place for tender or, in cases of rejection after arrival or revocation of acceptance, as of the place of arrival.
Effective: July 1, 1960
History: Created 1958 Ky. Acts ch. 77, sec. 2-713, effective July 1, 1960.