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Ark. Code Ann. § 4-2-708

Seller's damages for non-acceptance or repudiation

Known as the Uniform Commercial Code

The act spans §§ 4–4 (597 sections).

Applied in 1 court decision — leading case Razorback Concrete Co. v. Dement Construction Co. (2012)

Most recently applied in Razorback Concrete Co. v. Dement Construction Co. (August 2012)

Acts 1961, No. 185, § 2-708; A.S.A. 1947, § 85-2-708.

(1) Subject to subsection (2) and to the provisions of this chapter with respect to proof of market price (§ 4-2-723), the measure of damages for non-acceptance or repudiation by the buyer is the difference between the market price at the time and place for tender and the unpaid contract price together with any incidental damages provided in this chapter (§ 4-2-710), but less expenses saved in consequence of the buyer's breach.

(2) If the measure of damages provided in subsection (1) is inadequate to put the seller in as good a position as performance would have done then the measure of damages is the profit (including reasonable overhead) which the seller would have made from full performance by the buyer, together with any incidental damages provided in this chapter (§ 4-2-710), due allowance for costs reasonably incurred and due credit for payments or proceeds of resale.

Current official text: Arkansas General Assembly. Digitized from the UniCourt Code Improvement Commission public-domain capture. Reproduced from public-domain Arkansas statutes; confirm against the official source for the current text. Not legal advice.