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X and Y agree that X will sell Y50 pairs of Mike 1.1 Sneakers for $5,000.X did not send the sneakers at the performance date.

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X and Y agree that X will sell Y50 pairs of Mike 1.1 Sneakers for $5,000.X did not send the sneakers at the performance date. Y purchased replacement sneakers for $5,500, plus paid extra shipping insurance of $150 and, because of the delay, suffered business losses of $1,000. Which of the following is correct? The only amount of damages that can be collected will be $500, which is the difference between the contract price an repurchase price. The total amount of damages that can be collected will be $150, which is the incidental damages collected for the shipping insurance. Otherwise, the buyer assumed the risk of loss. The amount of damages that can be collected will be $1500, which is the difference between the contract price and th repurchase price, plus the lost profits. (D) None of the above

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