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KRS 355.2-708

Seller's damages for nonacceptance or repudiation

Known as the Uniform Commercial Code

The act spans §§ 355.10-101–355.9-809 (686 sections).

Applied in 1 court decision — leading case City of Louisville v. Rockwell Manufacturing Co. (1973)

Most recently applied in City of Louisville v. Rockwell Manufacturing Co. (June 1973)

Effective: July 1, 1960 History: Created 1958 Ky

(1) Subject to subsection (2) and to the provisions of this article with respect to proof of market price (KRS 355.2-723), the measure of damages for nonacceptance 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 article (KRS 355.2-710), 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 article (KRS 355.2-710), due allowance for costs reasonably incurred and due credit for payments or proceeds of resale.

Official source: Kentucky General Assembly. Reproduced from public-domain Kentucky statutes; confirm against the official source for the current text. Not legal advice.