Name at least four seller's remedies when the buyer breaches a contract and at least four buyer remedies when the seller breaches a contract.
In case the buyer breached the contract and seller carries the goods then seller has many options to look into such as – withhold the good delivery by cancelling the contract; can recover damages by reselling the manufactured goods and this can be achieved by having the difference among the resale price as compared to the price agreed by the buyer as per the contract; recover the goods’ purchase price; damage recovery for the rejection through the profit which seller has lost when the breach carried by the buyer; Seller can reclaim the goods in buyer’s custody ; stop the shipment in the good’s transit time; choose the alternative to minimize the loss, etc. Therefore, Seller can avoid, suspend, reclaim, and take an action for damages or price. Likewise, the buyer can recover damages by buying other goods from the seller; have the difference among goods price in the market and the agreed price as per the contract; for any kind of non-conformance of the value; should obtain the specific performance in case of the unique goods which cannot be available from other seller; Buyer can recover the damages based on the bargain calculation for falsification and deception, etc. Therefore, the buyer can avoid the contract, adjust the agreed price, and take an action for any damages happened.
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