Recover Damages for Accepted Goods Sample Clauses

Recover Damages for Accepted Goods. A buyer who accepts nonconforming goods may keep the goods and, after reasonable notice to the seller of the defects in the goods and/or the manner of tender, sue for the difference between the value of the goods as accepted and their value as promised in the contract. ◼ Statute of Limitations: An action for breach of contract under the U.C.C. must be commenced within four years after the injured party knew or should have known of the breach. ◼ The parties may contractually agree to reduce this period to not less than one year, but may not extend it beyond four years. ◼ A buyer who accepts nonconforming goods must notify the breaching party of the breach within a reasonable time to permit the breaching party to cure; the buyer’s failure to do so will bar any claim for breach.