flowchart - ucc remedies

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Page 1: Flowchart - UCC Remedies

Restitution 2-711(2)(a)

Specific Performance 2-716

Fails to Deliver/Repudiate

Cover = 2-712 + 2-713 (sub -

K + incid/conseq -

loss avoid)

Doesn't Cover = 2-713 +

2-715 (mkt-K +incid/conseq - loss avoid)

2-711

Delivers w/ Defect

Keep Goods = 2-714 + 2-715

Doesn't Want to Keep Goods

Reject Goods 2-601

Seller's Right to Cure 2-508

Revoke 2-608 (substantial impairment)

BUYER'S REMEDIES

SELLER'S REMEDIES

2-703

Repudiate, Refuse Delivery, Reject w

Justification

Resell = 2-706 + 2-710 (K-resale +

incid - loss avoided)

*reasonable good faith resale

No Resale = 2-708 + 2-710

(Mkt - K + incid - loss avoided)

*MP @ time/place tender

Accept, Insufficient Payment

2-709(1) Seller Specific

Performance

Liquidated Damages

2-718(2)(b) = lesser of $500

or 20%

*NO Consequential for Seller