New Jersey Statutes 12A:2-713. Buyer’s damages for non-delivery or repudiation
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Terms Used In New Jersey Statutes 12A:2-713
- 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 the provisions of this Chapter with respect to proof of market price (12A:2-723), 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 together with any incidental and consequential damages provided in this Chapter (12A:2-715), but less expenses saved in consequence of the seller’s breach.
(2) Market price is to be determined as of the place for tender or, in cases of rejection after arrival or revocation of acceptance, as of the place of arrival.
L.1961, c. 120, s. 2-713.