Page:United States Statutes at Large Volume 50 Part 1.djvu/70

 75 TH CONGRESS, 1ST SESSION-CH. 43 -MA RCH 17, 1937 SEC. 65. WHEN SELLER MAY RESCIND CONTRACT OR SALE .- Where the goods have not been delivered to the buyer, and the buyer has repu diated the contract to sell or sale, o r has manifested hi s inability to perform his obligations thereunder, or has committed a material breach thereof, the seller may totally rescind the contract or the sale by giving notice of his election so to do to the buyer. REMEDIES OF THE Bu YLR SEC. 66. ACTION FOR CONVERTING OR DETAINING GOODS .-Where the property in the goods has passed to the buyer and the seller wrong- fully neglects or refuses to deliver the goods, the buyer may main- tain any actio n allowed by law to the owner of goods o f similar k ind when Wrongfully converted or withheld. SEC . 67 . ACTION FOR FAILING TO DELIVER GOODS .-(1) Wh ere the property in the goods has not passed to the buyer, and the seller wrongfully neglects or refuses to deliver the goods, the buyer may maintain an action against the seller for damages for nondelivery. (2) The measure of damages is the loss directly and naturally resu lting in t he ordinar y course o f events, from the s eller's bre ach of contract. (3) Where there is an available market for the goods in question, the measure of damages, in the absence of special circumstances showing proximate damages of a greater amount, is the difference between the contract price and the market or current price of the goods at the time or times when they ought to have been delivered or if no time was fixed, then at the time of the refusal to deliver. SEC. 68. SPECIFIC PERFORMANCE .-Where the seller has broken a contract to deliver specific or ascertained goods, a court having the powers of a court of equity may, if it thinks fit, on the application of the buyer, by its judgment or decree direct that the contract shall be performed specifically, without, giving the selle r the opti on of retaining the goods on payment of damages. Th e judgment or decree may be unconditional or upon such terms and conditions as to damages, payment of the price, and otherwise, as to the court may seem just. SEC. 69 . REMEDIES FOR BREACH OF WARRANTY .-(I) Where there is a bre ach of war ranty by th e seller, the buyer may, at, h is electio n- (a) Accept or keep the goods and set up against the seller the breach of warranty by way of recoupment in diminution or extinction of the price ; (b) Accept or keep the goods and maintain an action against the seller for damag es for the breach of Warranty ; (c) Refuse to accept the goods, if the property therein has not passed, and maintain an action against the seller for damages for the breach of warranty ; and (d) Rescind the contract to sell, or the sale, and refuse to receive t he good s ; or if the goods hav e already b een receiv ed return them or offer to return them to the seller and recover the price or any part thereof which has been paid. (2) When the buyer has claimed and has been granted a remedy in any one of these ways, no other remedy can thereafter be granted . (3) Where the goods have been delivered to the buyer, he cannot rescind the sale if he knew of the breach of Warranty when he accepted t he goods, or if he fails to notify the seller within a re ason- able time of the election to rescind, or if he fails to return or to offer to return the goods to the seller in substantially as good condition as they were in at the time the property was transferred to the buyer . But if deterioration or injury of the goods is due to the breach of 45 When seller may rescind contract or s a l e. Remedies of the buyer. Action for convert- ing or detaining goods. Action for failing to del iver go ods. S peci fic perform. anc e. Remedies for breach of warranty.