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This entry was published on 2014-09-22
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Proof of Market Price: Time and Place
Uniform Commercial Code (UCC) CHAPTER 38, ARTICLE 2, PART 7
Section 2--723. Proof of Market Price: Time and Place.

(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 (Section 2--708 or Section
2--713) shall be determined according to the price of such goods
prevailing at the time when the aggrieved party learned of the

(2) If evidence of a price prevailing at the times or places described
in this Article 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 this Article offered by one party is not
admissible unless and until he has given the other party such notice as
the court finds sufficient to prevent unfair surprise.