This lesson explores the remedies that are available in UCC Article 2 for the Buyer when the Seller is in breach. We first examine the remedies when the Seller has the goods, and then when the Buyer has the goods. This lesson may be run either as an introduction before the material is studied or as a review after it is studied.
On completion of the lesson, the student will be able to:
1. Distinguish between remedies available when the seller has the goods and when the buyer has the goods.
2. Explain the formulas for buyer's cover remedy and buyer's market remedy.
3. Articulate when a buyer is entitled to incidental and consequential damages.
4. Explain the remedies available when the buyer has accepted the goods.