Asked by Laken Guzic on May 26, 2024
Verified
Discuss the damages a seller or lessor may recover when a buyer or lessee is in breach and the goods are sold or leased to another party.
Seller Or Lessor
The party in a transaction who is selling or leasing a good, service, or property to another party, known as the buyer or lessee.
Breach
The act of breaking or failing to observe a law, agreement, or code of conduct.
Damages
Compensation claimed by a party in a lawsuit for losses or injuries suffered as a result of another party's actions or failure to act.
- Determine the damages recoverable by a seller or lessor upon a buyer's or lessee's breach of contract including resell or lease to another party.
Verified Answer
NK
Nicole KasperekMay 30, 2024
Final Answer :
The seller may recover the difference between the resale price and the contract price,plus incidental damages and minus expenses saved.The seller gets to keep any profits it makes on the resale.The lessor is allowed to lease the goods to another party and recover unpaid lease payments and any deficiency between the lease payments due under the original lease contract,and those due under the new contract.The lessor also can seek incidental damages.
Learning Objectives
- Determine the damages recoverable by a seller or lessor upon a buyer's or lessee's breach of contract including resell or lease to another party.