In the early days of the first pioneer settlers there were no overarching guidelines that governed how to conduct business arrangements. Many pioneer settlers made agreements and bargained with one another in order to obtain goods and services; including food, shelter, farming assistance and equipment; with no more formality, than by word of mouth (thus the emergence “your word is your bond” phrase.) As the settler population increased, a promissory oral pledge, transformed from word of mouth to a handshake, which in fact “sealed the deal”. In many early settlements, the buyer’s and seller’s terms of the agreement was only in the form of an implied contract; thereby leaving a gap for interpretation with regard to honoring…show more content… What (if any) actions are warranted to the aggrieved party, i.e., remedies, damages or both? To what extent is the level and method of recovery is required? With that said, “the concept of remedies under both the UCC and CISG is to make the damaged party whole, which means putting him in the same position that he would have been in had the other party performed its contractual obligations”. However, the “UCC draws two different distinctions between types of remedies. One distinction marks the familiar divide between substitutional and specific relief. Remedies describe different measures of money damages and nonmonetary relief. The other distinction is between the remedies available when the breaching party retains the goods and remedies available when the non-breaching party retains them”. For remedies within UCC and CISG purview, Gillette notes the majoritarian standard is a criterion used for evaluating applicable remedies available. Albeit relevant to the remedy process; the majoritarian standard alone doesn’t determine the goal of compensation to be achieved by remedies. For example, a buyer who is damaged by “retaining nonconforming goods, can recover costs, where appropriate, incidental expenses and consequential damages”. Similarly, the CISG provides that “the buyer may seek damages under other theories, for example, tort remedies, as well as other provisions of the CISG when seeking remedies”. To further explore the potential recourses available to the seller and buyer under the UCC and CISG authority, the following specifics are
