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Alyssa Underwood
on Nov 30, 2024

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When the buyer breaches a sales contract, if the difference between the contract price and the market price will not place the seller in as good a position as performance would have, then the seller may recover the lost profit.

Lost Profit

Revenue that a business could have gained but was unable to due to some disrupting event or action.

Sales Contract

A legally binding agreement between a seller and a buyer specifying the terms of sale for goods or services.

Market Price

Market price is the current price at which an asset or service can be bought or sold in the open market.

  • Understand the consequences and remedies available when a buyer or seller breaches a sales contract.
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Elona ShehuDec 03, 2024
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