Asked by
Senay Solomon
on Nov 27, 2024
Verified
When a seller breaches a contract for a sale of goods, knowing the buyer plans to resell the goods, the buyer can recover the lost profits from the planned resale.
Lost Profits
The potential revenue that a business did not earn due to an interruption, disruption, or another adverse event.
Resale
The act of selling an asset or item that was previously purchased, often occurring in secondary markets or through distributor networks.
Breaches
Incidents where laws, contracts, or promises are violated, leading to legal consequences.
- Understand the concepts of damages and remedies in contract law.
- Recognize the legal principles governing the recovery of damages for the breach of contract involving the sale of goods, employment, and real property.
Verified Answer
CM
Learning Objectives
- Understand the concepts of damages and remedies in contract law.
- Recognize the legal principles governing the recovery of damages for the breach of contract involving the sale of goods, employment, and real property.