calculating damages

Question 1

if the contractor is ready to finish and the otehr side cancels, the contractor gets..

Answer 1

full damages of the entire completed job (cost + profits - mitigated expenses)

Question 2

if a contractor stops early (even for a good reason like non-payment) they only get damages for

Answer 2

what they already did unless they have clear evidence of lost profits

Question 3

a buyer breaches a sales contract when

Answer 3

• she wrongfully rejects goods
• wrongfully revokes acceptance of goods
• fails to make a payment when due
• repudiates with respect to a part or the whole contract

Question 4

if the seller no longer has the goods and buyer failed to pay

Answer 4

buyer can recover for the price of goods accepted

Question 5

if the seller still has the goods and the buyer breached before accepting

Answer 5

seller may recover the price only if they are unable to sell if after reasonable efforts

Question 6

if the seller resells but for less than the contract was

Answer 6

the seller can get the difference between the contract price and the resale price

Question 7

if the seller resells and is faces by incidents in reselling

Answer 7

the seller can get the difference and the cost with any incidents

Question 8

contract open market after a buyer breach

Answer 8

whether the goods are sold or not - they seller can recover what the item would have sold for at the time it was supposed to be delivered minus what the contract price was for

Question 9

if the seller is able to re-let the inventory

Answer 9

allows recovery of the profit (including reasonable overhead) what the seller would have made from full performance