Asked by Vanshika Khurana on Sep 30, 2024
Even if a buyer breaches a contract,the seller is accountable to the buyer for any profit that the seller makes on a resale.
Breaches Contract
A violation or infringement of the terms and conditions stated in a contract by any of the parties involved, leading to a breach of contract.
Profit on Resale
The financial gain obtained from selling an asset for more than its purchase price.
- Gain insight into the range of responses and obligations a seller has in the event of a buyer's breach, which includes completing the goods and offering them for resale.
Learning Objectives
- Gain insight into the range of responses and obligations a seller has in the event of a buyer's breach, which includes completing the goods and offering them for resale.