Ch 24 - Remedies

Question 1

Sellers’ remedies before delivery

Answer 1

Cancel/stop contract and delivery
Resell/dispose of goods
Recover the difference plus expenses minus savings
Liquidated damages (cannot be punitive in nature)

Question 2

Sellers’ remedies in transit

Answer 2

Solvent buyer = can only get goods back if entire load

Insolvent buyer = get the goods back

Question 3

Sellers’ remedies after delivery

Answer 3

10 day window to reclaim goods from insolvent buyer

Question 4

Buyers’ remedies

Answer 4

Cancel the contract
Cover & sue for price difference
Consequential damages
Specific performance if unique goods
Replevin (must try to find goods at issue) after reasonable efforts to cover
Reject nonconforming goods
Revoke acceptance

Question 5

Goal of remedies in sale/lease contracts

Answer 5

Benefit of the bargain (not made whole like torts)