So, 2-713(1) says "the measure of damages for non-delivery 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..."
(2) says "Market price is to be determined as of the place for tender. . ."
So, measure of damages is time of breach, and contract price. Got it.
2-723 says: "market price price shall be determined according to the price of such goods . . . at the time when the aggrieved party learned of repudiation."
The way my professor explained it doesn't really make any sense to me. She said that "Because they both say X, then they both have to have purpose, so because 2-713 has (2), then the actual measure for those damages is TIME OF TENDER."
I'm honestly probably not explaining this very well because I honestly don't know what to do here. 2-713 refers to 2-723, but at least as far as 2-713(1) is concerned, they both say "market damages are measured at time of breach." Why does 2-713(1) say that and then (2) says "market price is place for tender." Can somebody please shoot some knowledge at me and put me on the right track to differentiating these two?
Can somebody explain UCC 2-713 and UCC 2-723, please? Forum
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- BVest
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Re: Can somebody explain UCC 2-713 and UCC 2-723, please?
Locate where you are on the time-space continuum:
Time: Time of Breach (713(1), 723)
Space: Place of Breach (e.g. if the widgets were to be tendered in Hawaii you don't use Texas market price) (713(2))
Time: Time of Breach (713(1), 723)
Space: Place of Breach (e.g. if the widgets were to be tendered in Hawaii you don't use Texas market price) (713(2))
Last edited by BVest on Sat Jan 27, 2018 6:18 am, edited 1 time in total.
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Re: Can somebody explain UCC 2-713 and UCC 2-723, please?
My classmates are all baffled when I say that 2-713 is not time of tender, and I just want to be sure I really understand it going into the test, maybe score some extra points.
So TIME is time of breach for both, according to the UCC.
My professor says 2-713, TIME is that of tender. And this is wrong?
And PLACE in 2-713 is going to be dictated by place of tender or arrival, just depending on the fact set.
2-723 says TIME is breach (just like 2-713), but PLACE is what's up in the air, and this differentiates this from 2-713? And it's not necessarily going to be the PLACE of tender or arrival, but just a place that would otherwise be commercially reasonable?
I've obviously been mixed up, so I'm just trying to figure out what it actually is and what I need to put on my exam. Right now, I feel like these are two separate things.
So TIME is time of breach for both, according to the UCC.
My professor says 2-713, TIME is that of tender. And this is wrong?
And PLACE in 2-713 is going to be dictated by place of tender or arrival, just depending on the fact set.
2-723 says TIME is breach (just like 2-713), but PLACE is what's up in the air, and this differentiates this from 2-713? And it's not necessarily going to be the PLACE of tender or arrival, but just a place that would otherwise be commercially reasonable?
I've obviously been mixed up, so I'm just trying to figure out what it actually is and what I need to put on my exam. Right now, I feel like these are two separate things.
- Jsa725
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