Suppose Creatorz, an iron products manufacturing company, receives a contract for 5000 nails from WoodLyf, a company that builds customized wooden items. Just before the batch is delivered, WoodLyf cancels the contract as it has negotiated with another company to buy the nails at a cheaper price. In this scenario, how can Creatorz determine the damages that WoodLyf is liable for because of repudiating the contract? (Choose two correct answers.)Multiple select question.By calculating the profit from all plausible buyers that Creatorz lost because of dealing with WoodLyfBy calculating the difference between the contract price and the market price of the nails at the timeBy actuating the profit that Creatorz lost when WoodLyf did not go through with the contractBy actuating the emotional damages that Creatorz suffered due to WoodLyf's refusal to accept goods

Identify the factors through which a seller can determine the damages that a buyer is liable for because of the breach of contract. (Choose two correct answers.)Multiple select question.The profit from all the plausible buyers that was lost because of dealing with the current buyerThe difference between the contract price and the market price at which the goods are currently sellingThe profit that the seller lost when the buyer did not go through with the contractThe emotional damages that the seller suffered due to buyer's refusal to accept goods

If the difference between the contract price and the market price would not put the seller in as good a financial position as the seller would have been in if the contract had been performed, the seller can ________. (Choose three correct answers.)Multiple select question.recover lost profitrecover emotional damagesrecover overheadget compensated for incidental damagesdecline credit to buyer for expenses saved

In the context of reselling of goods by a seller after a buyer's breach of contract, which of the following would be considered incidental damages?Multiple select question.Manufacturers' taxSeller's profitStorage chargesSales commissions

Assume Sandra ordered a cake for her sister's wedding from CakeLike. She insisted through the contract that she needs the cake delivered on the day before the wedding. But CakeLike failed to deliver it even on the wedding day. Also, Sandra was unable to find another alternative cake for the day. In this scenario, Sandra can recover consequential damages caused by CakeLike by showing that _________.Multiple choice question.the contract price was higher than the cost price of the substitute goodsCakeLike made profits out of the sales contractCakeLike knew about the potential damages in case of nonperformance of its obligationsSandra could have prevented damages by obtaining substitute goods

_______ damages include expenses that the buyer incurs in receiving, inspecting, transporting, and storing ________ goods shipped by the seller that do not conform to those called for in the contract.Multiple select question.ConformingNonconformingCoverIncidental