Discuss the Steps That May Be Taken and the Damages

question 24

Essay

Discuss the steps that may be taken and the damages a seller and lessor may recover when a buyer or lessee is in breach,and the goods have not yet been delivered.

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Definitions:

Good Faith

The honest intention to act without taking an unfair advantage over another party, often mentioned in contracts and negotiations.

Good Faith

The principle of honesty and fairness in dealings, implying a sincere intention without deception.

Negligent

A failure to behave with the level of care that someone of ordinary prudence would have exercised under the same circumstances, leading to unintended harm.

Instrument

A written legal document that formalizes an agreement or obligation between parties or is used to create a formal record.