A seller contracts to sell some rare coins to a collector for $10,000,to be delivered 2 months after the date of the contract.On the date that delivery is due,the coins are worth $12,000,but the seller refuses to deliver.The collector acquires similar coins the following week for $13,000,the best price he can find.What can the collector recover from the seller?

Question

Quizplus · Accepted Answer

The collector can recover the difference between the contract price and the cost of buying replacement coins, which is $3,000 ($13,000 - $10,000). The fact that the collector bought coins from another seller is irrelevant, as the seller breached the contract and failed to deliver the coins as promised. Therefore, the correct answer choice is D.

A Seller Contracts to Sell Some Rare Coins to a Collector