§ 554.2723 — Proof of market price — time and place

Iowa § 554.2723

• Jurisdiction: Iowa
• Title XIII: COMMERCE
• Ch. 554: UNIFORM COMMERCIAL CODE

Text

1. If an action based on anticipatory repudiation comes to trial before the time for
performance with respect to some or all of the goods, any damages based on market price
(section 554.2708 or 554.2713) shall be determined according to the price of such goods
prevailing at the time when the aggrieved party learned of the repudiation.
2. If evidence of a price prevailing at the times or places described in this Article is not
readily available the price prevailing within any reasonable time before or after the time
described or at any other place which in commercial judgment or under usage of trade
would serve as a reasonable substitute for the one described may be used, making any
proper allowance 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 the one described
in this Article offered by one party is not admissible unless and until that party has given the
other party such notice as the court finds sufficient to prevent unfair surprise.

Legislative History

[C66, 71, 73, 75, 77, 79, 81, §554.2723]