Can somebody explain UCC 2-713 and UCC 2-723, please?
Posted: Mon May 05, 2014 2:15 pm
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?
(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?