8.2-708 - Seller's damages for nonacceptance or repudiation. - Virginia Statutes

§ 8.2-708. Seller's damages for nonacceptance or repudiation.

(1) Subject to subsection (2) and to the provisions of this title withrespect to proof of market price (§ 8.2-723), the measure of damages fornonacceptance or repudiation by the buyer is the difference between themarket price at the time and place for tender and the unpaid contract pricetogether with any incidental damages provided in this title (§ 8.2-710), butless expenses saved in consequence of the buyer's breach.

(2) If the measure of damages provided in subsection (1) is inadequate to putthe seller in as good a position as performance would have done then themeasure of damages is the profit (including reasonable overhead) which theseller would have made from full performance by the buyer, together with anyincidental damages provided in this title (§ 8.2-710), due allowance forcosts reasonably incurred and due credit for payments or proceeds of resale.

(1964, c. 219.)