Buyer Seller Remedy
The uniform commercial code has the aim of harmonising the law of sales and all other commercial transactions. The objective of harmonising the laws is necessary due to the diverse nature of the sales transactions that take place across some states. Also, the laws seek to ensure that the laws allow for an element of flexibility across the different states. This paper presents the remedies available to a seller and buyer suppose either party breaches a contract that they are a part.
Seller remedy when a buyer breaches a contract
Whenever a seller offers goods for sale, he becomes a party to a sale agreement. Contracts for the sale of goods gets covered under article two of the uniform commercial contract. The article covers breach of the sales contract by a buyer. Some of the ways that a buyer can breach a sales contract include the wrongful return of goods and failure to pay for goods purchased.
The remedies, which imply legal relief meant to restore the seller for the losses suffered, include cancellation of the contract and reclamation of the goods sold. Other remedies include the provision to withhold the goods aimed for delivery and reselling the goods to recover damages for price differences. The uniform commercial code also allows the buyer to recover damages based on the prevailing market prices.
For example, suppose seller A offers an aeroplane to Buyer B, and the buyer refuses to adhere to the terms of the contract, the uniform commercial code allows seller A to cancel the contract. When interpreting the law, the seller should take into account the stage of the sale. For example, it would be more prudent to withhold delivery of goods suppose part payment has gotten made and the seller has no intention of refunding the payment made.
Buyer remedy when a seller breaches a contract
Buyers become a party to a sale agreement, expressly or by implication when they make purchases of goods. The uniform commercial code governs the legal interpretation of breach of contract. Some of the ways through which a seller can breach a contract include the failure to deliver goods as per the contract and the delivery of goods that do not conform to the specifications of the contract. The code allows a buyer some remedies suppose the seller breaches a contract.
The uniform commercial code provides for the purchaser to cancel the contract and recover the price for undelivered goods. Other remedies accorded to the buyer include the replacement of property and the recovery of damages for differences in price. Also, the code provides for the purchaser to recover damages based on the current market price. All the provisions seek to restore the buyer to the position that they would have been had the sale contract not happened. However, in interpreting the provisions of the code, the seller should take into account the stage of the contract so as to ensure fairness and equity in its application.
The paper has evaluated the provisions of the uniform commercial code as relates to breach of contract by both the buyer and the seller. It has gotten pointed out that the legal guide seeks to harmonise sale laws while at the same time allowing for flexibility across states. The paper has concluded that parties to a contract must evaluate the law in context so as to allow for the fair and equitable application of the provisions.