Question
As with the Common Law, the remedies available for breach under the UCC seek to compensate, not punish. Why? How does the existence of the
As with the Common Law, the remedies available for breach under the UCC seek to compensate, not punish. Why? How does the existence of the Perfect Tender Rule in the UCC affect the issue of remedies? Compare and contrast available UCC remedies with those under Common Law. A major concept that is part of every UCC transaction is the notion of Good Faith and Honesty in Fact. Courts have held that even if you follow the terms of a contract, but do so in bad faith, you may be held liable. Why? How does the existence of the Assurance of Performance provision in the UCC (UCC 2-609) create a situation that is different than the Common Law in the case of anticipatory repudiation?
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