Business Law Study Set 5
Quiz 22: Remedies for Breach of Sales Contracts
Under the Ucc the Parties to a Contract Can Shorten
Under the UCC the parties to a contract can shorten the statute of limitations on a breach of contract but cannot extend it longer than four years.
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If the seller is in the process of manufacturing the goods when the buyer breaches the contract,one of the seller's options is to complete manufacture of the goods and then resell them so long as this minimizes the loss to the seller.
Even if a buyer breaches a contract,the seller is accountable to the buyer for any profit that the seller makes on a resale.
If the buyer and seller have agreed to the manner in which the resale is to be made,the courts will enforce the agreement unless it is found to be unconscionable.
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