New Jersey Statutes 12A:2-708. Seller’s damages for non-acceptance or repudiation
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Terms Used In New Jersey Statutes 12A:2-708
- Buyer: means a person who buys or contracts to buy goods. See New Jersey Statutes 12A:2-103
- Contract: A legal written agreement that becomes binding when signed.
- Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
- Seller: means a person who sells or contracts to sell goods. See New Jersey Statutes 12A:2-103
(1) Subject to subsection (2) and to the provisions of this Chapter with respect to proof of market price (12A:2-723), the measure of damages for non-acceptance or repudiation by the buyer is the difference between the market price at the time and place for tender and the unpaid contract price together with any incidental damages provided in this Chapter (12A:2-710), but less expenses saved in consequence of the buyer’s breach.
(2) If the measure of damages provided in subsection (1) is inadequate to put the seller in as good a position as performance would have done then the measure of damages is the profit (including reasonable overhead) which the seller would have made from full performance by the buyer, together with any incidental damages provided in this Chapter (12A:2-710), due allowance for costs reasonably incurred and due credit for payments or proceeds of resale.
L.1961, c. 120, s. 2-708.