8.2-723 - Proof of market price; time and place. - Virginia Statutes

§ 8.2-723. Proof of market price; time and place.

(1) If an action based on anticipatory repudiation comes to trial before thetime for performance with respect to some or all of the goods, any damagesbased on market price (§ 8.2-708 or § 8.2-713) shall be determined accordingto the price of such goods prevailing at the time when the aggrieved partylearned of the repudiation.

(2) If evidence of a price prevailing at the times or places described inthis title is not readily available the price prevailing within anyreasonable time before or after the time described or at any other placewhich in commercial judgment or under usage of trade would serve as areasonable substitute for the one described may be used, making any properallowance for the cost of transporting the goods to or from such other place.

(3) Evidence of a relevant price prevailing at a time or place other than theone described in this title offered by one party is not admissible unless anduntil he has given the other party such notice as the court finds sufficientto prevent unfair surprise.

(1964, c. 219.)