(1) Subject to the provisions of this chapter with respect to proof of market price (§ 4-2-723), 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 (§ 4-2-715), 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.
History. Acts 1961, No. 185, § 2-713; A.S.A. 1947, § 85-2-713.
Structure Arkansas Code
Title 4 - Business and Commercial Law
Subtitle 1 - Uniform Commercial Code
§ 4-2-701. Remedies for breach of collateral contracts not impaired
§ 4-2-702. Seller's remedies on discovery of buyer's insolvency
§ 4-2-703. Seller's remedies in general
§ 4-2-705. Seller's stoppage of delivery in transit or otherwise
§ 4-2-706. Seller's resale including contract for resale
§ 4-2-707. “Person in the position of a seller.”
§ 4-2-708. Seller's damages for non-acceptance or repudiation
§ 4-2-709. Action for the price
§ 4-2-710. Seller's incidental damages
§ 4-2-711. Buyer's remedies in general — Buyer's security interest in rejected goods
§ 4-2-712. “Cover” — Buyer's procurement of substitute goods
§ 4-2-713. Buyer's damages for nondelivery or repudiation
§ 4-2-714. Buyer's damages for breach in regard to accepted goods
§ 4-2-715. Buyer's incidental and consequential damages
§ 4-2-716. Buyer's right to specific performance or replevin
§ 4-2-717. Deduction of damages from the price
§ 4-2-718. Liquidation or limitation of damages — Deposits
§ 4-2-719. Contractual modification or limitation of remedy
§ 4-2-720. Effect of “cancellation” or “rescission” on claims for antecedent breach
§ 4-2-722. Who can sue third parties for injury to goods
§ 4-2-723. Proof of market price — Time and place