PLG205 assignment 12.1 - Copy

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Dorris1 of 4 Ashley Dorris PLG205-Contracts November 28, 2023 Assignment 12.1: Remedies for Breach of a Sales Contract Create a three-column table documenting the various remedies available in a breach of contract situation. In the first column, list the names of the remedies available to sellers and lessons as well as to buyers and lessees. In the second column, describe each remedy, and in the third column of the table, provide an example of a situation that relates to each remedy. “Article 2 of the UCC applies to contracts for the sale of movable goods, which includes shipments of goods between merchants, between merchants and consumers, and between non- merchants. Contracts subject to the UCC must meet its requirements to be enforceable. In addition, the UCC sets forth specific remedies for breach of contract, which are different from the remedies for common law contracts.”-According to Romano Law Remedies fall into three main categories: affirmative (injunctive relief), compensatory (restitution), and punitive (specific performance). Remedy: Description: Example of: UCC 2-703(a), 2A-523(1)(c) Right to withhold delivery from the buyer. The seller can keep goods if the buyer doesn't pay or if the buyer notifies the company about their inability to pay. Allows the seller to refuse to deliver the goods to the buyer if the buyer has breached the contract. This remedy is available when the buyer is in default of their obligations under the contract, such as non-payment or failure to perform certain acts. Company A agrees to sell and deliver 100 units of a product to Company B by a specific date, in exchange for payment of a certain amount. However, Company B does not make the payment within the agreed-upon time. In this case, Company A can exercise their right to withhold delivery from Company B, refusing to deliver the 100 units until the payment is made in full. UCC 2-705. Seller's Stoppage of Delivery in Transit or Otherwise. The breach of contract remedy "Seller's Stoppage of Delivery in Transit or Otherwise" allows the seller to stop the delivery of goods to the buyer if the buyer has breached the contract. This remedy is available when the buyer is insolvent or when the seller has a reasonable doubt about the buyer's ability to pay for the goods. Company A agrees to sell and deliver 100 units of a product to Company B. However, before the delivery is completed, Company B declares bankruptcy and it becomes clear that they will not be able to pay for the goods. In this case, Company A can exercise the remedy of "Seller's Stoppage of Delivery in Transit or Otherwise" and stop the delivery of the goods. UCC 2-507 Right to reclaim goods from the buyer This allows the seller to reclaim the goods delivered to the buyer in case of a breach of contract. This remedy is applicable when the buyer does not pay for the A buyer places an order for a specific quantity of goods from a seller and does not make the payment as agreed upon in the contract. In such a case, the seller would have the right to reclaim the goods that have already been delivered to the
Dorris2 of 4 goods or is in breach of any other contractual obligation. It is a remedy that allows the seller to retrieve the goods in case of a breach by the buyer, supplying a means of recourse for the seller. buyer until the payment is made or until a resolution is reached between the parties. UCC 2-706 Right to dispose of goods by seller This remedy refers to the legal right of a seller to sell or dispose of goods that have been wrongfully rejected or abandoned by the buyer due to a breach of contract. A buyer enters a contract with a seller to purchase a piece of furniture. The buyer fails to make the payment as agreed upon in the contract, which constitutes a breach of contract. In this case, the seller may exercise their right to dispose of the goods by selling the furniture to another buyer or by any other means permitted by law. This remedy allows the seller to recover some of the losses caused by the buyer's breach of contract. UCC 2-709(1) Right to recover the purchase price or rent by seller This is a remedy available to the seller when the buyer fails to fulfill their obligations under a contract. In such a situation, the seller has the right to recover the full purchase price or rent that was agreed upon in the contract. A seller enters into a contract to sell a car to a buyer for $10,000. The buyer agrees to pay the full amount within 30 days. However, after the car is delivered, the buyer fails to make the payment within the agreed timeframe. In this case, the seller can exercise their right to recover the full purchase price of $10,000 from the buyer as a remedy for the breach of contract. UCC 22-703(f) Right to cancel a contract by seller This remedy allows the seller to cancel the contract if the buyer fails to fulfill their obligations or breaches the terms of the agreement. This remedy gives the seller the option to terminate the contract and seek damages for any losses suffered as a result of the buyer's breach. A seller agrees to sell a car to a buyer, who agrees to pay the full amount within 30 days. However, if the buyer fails to make the payment within the agreed-upon timeframe, the seller can exercise their right to cancel the contract. They may choose to terminate the agreement, take back the car, and seek compensation for any damages they incurred due to the buyer's breach of contract. UCC 2-601, 2A- 509; UCC 2- 602(2), 2A- 512(1); UCC 2- 603, 2A-511; UCC 2-604, 2A- 512 Right to reject nonconforming goods or improperly tended goods This allows the non-breaching party to refuse acceptance of goods that do not meet the agreed-upon specifications or have been improperly handled or delivered. This remedy is typically available when there is a breach of contract related to the sale or delivery of goods. If Party A contracts with Party B to buy 100 units of a specific product, and when the goods are delivered, Party A discovers that only 90 units are delivered and some of them are damaged, Party A has the right to reject the nonconforming goods and refuse to accept the delivery. Party A can then demand that Party B either replace the missing and damaged units or supply a refund for the undelivered goods. UCC 2-502, 2A- 522 This remedy refers to the legal right of the buyer or lessee to An example of this remedy would be if a student ordered a laptop online from a seller who
Dorris3 of 4 Right to recover goods from an insolvent seller or lessor reclaim the goods they have already paid for or leased from a seller or lessor who has become insolvent. This remedy is typically available in situations where the seller or lessor has failed to deliver the goods as promised or has become financially unable to fulfill their obligations. subsequently filed for bankruptcy. In such a case, the student may have the right to recover the laptop they paid for from the insolvent seller, even if the seller is unable to deliver the laptop due to their financial situation. This allows the buyer to avoid losing their money and potentially find an alternative source for the desired goods. UCC 2-712, 2A- 518 Right to have a reasonable cover The right to have a reasonable cover allows the non-breaching party to minimize damages and protect their interests by seeking alternative solutions when the other party does not fulfill their contractual obligations. If Party A contracts Party B to deliver a specific product by a certain date, but Party B does not do so, Party A may exercise their right to have a reasonable cover. They can find another supplier who can supply the product and then seek reimbursement for any added costs incurred in obtaining the substitute goods. UCC 2-716(1), 2A-521(1) Right to obtain specific performance. In a breach of contract, this remedy refers to the legal right of the non-breaching party to demand that the breaching party fulfill their contractual obligations exactly as agreed upon in the contract. This remedy is typically sought when monetary compensation would not adequately remedy the harm caused by the breach, and when the subject matter of the contract is unique or cannot be easily substituted. Party A enters a contract with Party B to buy a rare and valuable artwork. If Party B breaches the contract by refusing to sell the artwork, Party A could seek the remedy of specific performance. In this case, Party A would ask the court to order Party B to fulfill their contractual obligation by transferring ownership of the artwork to Party A, as monetary compensation alone would not adequately replace the unique and valuable nature of the artwork. UCC 2-716(3), 2A-521(3) Right to replevy goods This is a breach of contract remedy that allows the non- breaching party to take back possession of goods that were wrongfully withheld by the breaching party. This remedy is typically used when the goods have already been delivered to the breaching party, but they refuse to return them. Company A contracts with Company B to deliver a shipment of goods. According to the contract, payment is due upon delivery. However, when Company A delivers the goods, Company B refuses to pay and wrongfully keeps the goods. In this situation, Company A can exercise their "Right to replevy goods" by taking legal action to reclaim the goods from Company B. UCC 2-713, 2A- 519 Right to recover damages for Non delivery or repudiation. This remedy allows the non- breaching party to seek financial compensation for losses caused by the other party's failure to fulfill their contractual obligations. Suppose Party A enters into a contract with Party B to purchase a specific product. The contract specifies a delivery date, but Party B fails to deliver the product within the agreed upon time frame, or they explicitly state that they will not be fulfilling their obligations. In this case, Party A would have the right to recover damages for non-delivery or repudiation. This would involve seeking compensation for any financial losses
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Dorris4 of 4 incurred as a result of Party B's failure to deliver, such as the cost of purchasing the product from another source at a higher price. UCC 2-711(1), 2A-508(1)(a) Right to cancel a contract This remedy allows the innocent party to end or cancel the contract due to a breach by the other party. It is typically available when one party does not fulfill their contractual obligations, resulting in a substantial violation of the contract terms. Company A enters a contract with Company B to deliver a certain product by a specific date. However, Company B does not deliver the product within the agreed-upon time. In this case, Company A may invoke their right to cancel the contract and end the agreement due to the breach by Company B. References: Ohio Revised Code Search (no date) Ohio.gov . Available at: https://codes.ohio.gov/ohio-revised- code/searchkeywords=breach%20of%20contract %20remedies&start=1&pageSize=25&sort=BestMatch (Accessed: December 1, 2023). "PART 7. REMEDIES | Uniform Commercial Code | US Law | LII / Legal Information Institute." LII / Legal Information Institute, n.d., https://www.law.cornell.edu/ucc/2/part_7. Ramstad, A. "UCC Remedies for Breach of a Contract - Romano Law." Romano Law, 2023, https://www.romanolaw.com/ucc-remedies-for-breach-of-a-contract/. Accessed 01 December 2023.