business law S. Which of the folowing remedies are available to both buyers and
ID: 2577470 • Letter: B
Question
business law
S. Which of the folowing remedies are available to both buyers and sellers? a. Cover b. Cure c. Specific performance d. Adequate assurances When Ben Buyer wrongfully repudiated his contract with Sam Seller, Sam had to pay a cancellation fee to the shipper and incurred costs to store and to restock the goods. Sam can recover these costs from the buyer as 6. damages a. Consequential b. Incidental c. Punitive d. Liquidatecd True or False A seller has a duty to mitigate damages when he has to decide whether to scrap or complete unfinished goods ordered by a buyer who breaches the contract. The remedy of adequate assurances is available to both buyers and sellers. A merchant whose tender is rejected may demand from the buyer a written statement of the defects 1. 2. 3. 4. A seller may resell the goods of a buyer who breached the contract only in a public auction.Explanation / Answer
5.
Answer: d
Adequate assurance is a remedy in which either the buyer or the seller can expect the required act from each other that has assured or promised. If it is not done the party sufferer can claim damage from the other. Therefore, this is a two-way remedy.
Other options are not correct:
Cover: This is the seller’s remedy in which damages for non-acceptance of buyer could be recovered by the seller.
Cure: This is no way related to sale-of-goods act. It is related to health-care facility.
Specific performance: This is the obligation of a seller that needs to be performed; if it is not done, the buyer can claim compensation. Therefore, this is the remedy of buyers, but not sellers.
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