§ 26-1-2-723 — Proof of market price; time and place

Indiana § 26-1-2-723

• Jurisdiction: Indiana
• Title 26: COMMERCIAL LAW
• Art. 1: UNIFORM COMMERCIAL CODE
• Ch. 2: Sales

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 (IC 26-1-2-708 and IC 26-1-2-713) 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 IC 26-1-2 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 IC 26-1-2 offered by one (1) party is not
admissible unless and until he has given the other party such notice as
the court finds sufficient to prevent unfair surprise.
Formerly: Acts 1963, c.317, s.2-723. As amended by
P.L.152-1986, SEC.175.