Why Are There So Many Different Options Available to a Nonbreaching

question 19

Essay

Why are there so many different options available to a nonbreaching party under the UCC in contracts for the sale of goods? Would it be better to limit the number of remedies so that a party contemplating whether or not to breach will be better able to predict the cost and consequences of a breach?

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Definitions:

Reportable Segments

Parts of a business that have separate financial information available, which can be evaluated regularly by the company's chief operating decision-maker in deciding how to allocate resources and in assessing performance.

Profits

The financial gain remaining after subtracting all expenses, taxes, and costs from total revenue.

Revenues

The total amount of money received by a company for goods sold or services provided during a specific time period.

Assets Test

A means of determining eligibility for certain government assistance programs based on the value of an individual's or entity's assets.