Michigan Compiled Laws 174-1962-2-7 Part 7 Remedies (440.2701...440.2725)

• Section 440.2701 Collateral Or Ancillary Contracts; Remedies For Breach.
  Remedies for breach of any obligation or promise collateral or ancillary to a contract for sale are not impaired by the provisions of this...
• Section 440.2702 Insolvency Of Buyer; Remedies Of Seller.
  (1) Where the seller discovers the buyer to be insolvent he may refuse delivery except for cash including payment for all goods theretofore delivered...
• Section 440.2703 Buyer's Wrongful Rejection, Revocation Of Acceptance, Or Nonpayment; Remedies Of Seller.
  Where the buyer wrongfully rejects or revokes acceptance of goods or fails to make a payment due on or before delivery or repudiates with...
• Section 440.2704 Buyer's Wrongful Rejection, Revocation Of Acceptance, Or Nonpayment; Identification Of Goods; Resale; Salvage.
  (1) An aggrieved seller under the preceding section may (a) identify to the contract conforming goods not already identified if at the time he...
• Section 440.2705 Stoppage Of Delivery In Transit Or Otherwise; Conditions; Notice To Bailee.
  (1) A seller may stop delivery of goods in the possession of a carrier or other bailee if the seller discovers the buyer to...
• Section 440.2706 Buyer's Wrongful Rejection, Revocation Of Acceptance, Or Nonpayment; Resale By Seller; Recovery Of Loss; Notice To Buyer; Profit.
  (1) Under the conditions stated in section 2703 on seller's remedies, the seller may resell the goods concerned or the undelivered balance thereof. Where...
• Section 440.2707 Person In The Position Of A Seller.
  (1) A “person in the position of a seller” includes as against a principal an agent who has paid or become responsible for the...
• Section 440.2708 Nonacceptance Or Repudiation; Seller's Damages.
  (1) Subject to subsection (2) and to the provisions of this article with respect to proof of market price (section 2723), the measure of...
• Section 440.2709 Nonpayment; Action For Price, Damages.
  (1) When the buyer fails to pay the price as it becomes due the seller may recover, together with any incidental damages under the...
• Section 440.2710 Seller's Incidental Damages.
  Incidental damages to an aggrieved seller include any commercially reasonable charges, expenses or commissions incurred in stopping delivery, in the transportation, care and custody...
• Section 440.2711 Nondelivery, Repudiation, Rejection, Or Revocation Of Acceptance; Buyer's Remedies; Security Interest In Goods.
  (1) Where the seller fails to make delivery or repudiates or the buyer rightfully rejects or justifiably revokes acceptance then with respect to any...
• Section 440.2712 Cover; Procurement Of Substitute Goods; Buyer's Damages.
  (1) After a breach within the preceding section the buyer may “cover” by making in good faith and without unreasonable delay any reasonable purchase...
• Section 440.2713 Nondelivery Or Repudiation; Buyer's Damages.
  (1) Subject to the provisions of this article with respect to proof of market price (section 2723), the measure of damages for nondelivery or...
• Section 440.2714 Accepted Goods; Buyer's Damages For Breach.
  (1) Where the buyer has accepted goods and given notification (subsection (3) of section 2607) he may recover as damages for any nonconformity of...
• Section 440.2715 Buyer's Incidental And Consequential Damages.
  (1) Incidental damages resulting from the seller's breach include expenses reasonably incurred in inspection, receipt, transportation and care and custody of goods rightfully rejected,...
• Section 440.2716 Specific Performance; Replevin; Claim And Delivery.
  (1) Specific performance may be decreed where the goods are unique or in other proper circumstances. (2) The decree for specific performance may include...
• Section 440.2717 Deduction Of Damages From Price; Notice.
  The buyer on notifying the seller of his intention to do so may deduct all or any part of the damages resulting from any...
• Section 440.2718 Liquidation And Limitation Of Damages; Restitution To Buyers.
  (1) Damages for breach by either party may be liquidated in the agreement but only at an amount which is reasonable in the light...
• Section 440.2719 Contractual Modification Or Limitation Of Remedies.
  (1) Subject to the provisions of subsections (2) and (3) of this section and of the preceding section on liquidation and limitation of damages...
• Section 440.2720 Cancellation, Rescission, Antecedent Breach.
  Unless the contrary intention clearly appears, expressions of “cancellation” or “rescission” of the contract or the like shall not be construed as a renunciation...
• Section 440.2721 Remedies For Misrepresentation Or Fraud.
  Remedies for material misrepresentation or fraud include all remedies available under this article for nonfraudulent breach. Neither rescission or a claim for rescission of...
• Section 440.2722 Right Of Action Against Third Party For Injury To Goods.
  Where a third party so deals with goods which have been identified to a contract for sale as to cause actionable injury to a...
• Section 440.2723 Evidence Of Market Price; Time, Place, Surprise.
  (1) If an action based on anticipatory repudiation comes to trial before the time for performance with respect to some or all of the...
• Section 440.2724 Evidence Of Market Price; Market Quotations, Admissibility.
  Whenever the prevailing price or value of any goods regularly bought and sold in any established commodity market is in issue, reports in official...
• Section 440.2725 Statute Of Limitations In Contracts For Sale; Contractual Reduction.
  (1) An action for breach of any contract for sale must be commenced within 4 years after the cause of action has accrued. By...

Last modified: October 10, 2016