Remedies Under Article Two of the Uniform Commercial Code: An Agenda for Review

Abstract

This Article will examine the remedy provisions of article 2 and will consider the problems that have surfaced in the application of those provisions. Various suggestions for revisions of the Code's remedy provisions will be offered. It must be emphasized, however, that I am not suggesting that the remedy provisions of the Code be viewed in isolation. The focus of this Article is upon remedies because these provisions of the Code evidence the most serious difficulties, but other portions of article 2 also should be reviewed carefully with an eye to similar revisions. Piecemeal amendments of isolated provisions in article 2 would be counterproductive, particularly because such amendments would undercut the principle of uniformity. Thus, any suggestions for revision of the remedy provisions of article 2, or for that matter any part of article 2, ultimately should be taken up in the course of an overall review of the article.

Keywords: UCC, Uniform Commercial Code, Article 2, Article 9, risk of loss provisions, commerical practices, dispute resolution, remedies for breach, Uniform Sales Act, market damages after repudiation

JEL Classification: K19, K29, K39