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The Decline Of The Contract Market Damage Model, James J. White

Articles

In law school every American lawyer learns that the conventional measure of damages for breach of a sales contract is the difference between the contract price and the market price. Even before these rules were embodied in the Uniform Sales Act and the Uniform Commercial Code (UCC), they were a staple of Anglo-American common law. They remain the rules with which a court would determine damage liability not only for the sale of goods, but also for the sale of real estate and securities.

Privity Revisited: Tort Recovery By A Commercial Buyer For A Defective Product's Self-Inflicted Damage, Mark A. Kaprelian

Michigan Law Review

This Note argues that if a seller and a commercial buyer are in privity, damage to a product resulting from its own defect should not be recoverable by a commercial buyer in a tort action. Part I shows how the conflict arises and examines the judicial boundaries that are normally drawn between tort and warranty liability. Part II contrasts the rationales for the warranty and tort remedies, with particular emphasis on the Uniform Commercial Code and Section 402A of the Restatement (Second) of Torts. Part III argues that if a seller and a commercial buyer are in privity and …

Remedies For Breach Under The Uniform Commercial Code (Ucc Ni Okeru Keiyaku Furiko Ni Taisuru Kyusai), Whitmore Gray

Articles

A series of seminar lectures given by Whitmore Gray in Tokyo, Japan during October 1968. Six articles were subsequently published in “Kaigai Shojihomu” (The International Business Law Bulletin) between July 1969 and May 1970. The fifth installment discusses the difficulty of remedies and various methods of enforcement.

Seller's Damages Following Resale Under Article Two Of The Uniform Commercial Code, Robert J. Nordstrom

Michigan Law Review

The seller's right to resell contracted-for goods following a breach by the buyer is set forth in section 2-706 of the Uniform Commercial Code (Code). That section also contains a statement of the conditions placed upon the exercise of that right and provides the measure of recovery if the resale is made "in good faith and in a commercially reasonable manner":

[T]he seller may recover the difference between the resale price and the contract price together with any incidental damages allowed under the provisions of this Article (Section 2-710), but less expenses saved in consequence of the buyer's breach.

In …

A General Theory For Measuring Seller's Damages For Total Breach Of Contract, Robert J. Harris

Michigan Law Review

This article is concerned with the legal rules which should govern the process of valuing what plaintiff saved by exercising his power to stop further performance upon notice of defendant's serious breach. Where plaintiff is a "buyer" (whether he buys land, services, personality, or the temporary use of some kind of property), and he was to pay the price in dollars, few difficulties arise in valuing his saved performance. But if he was a "seller" of any of those commodities, valuation is hard. Thus our inquiry is chiefly concerned with cases in which plaintiff is a "seller," not a "buyer."