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Foundational Principles of Contract Law$
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Melvin A. Eisenberg

Print publication date: 2018

Print ISBN-13: 9780199731404

Published to Oxford Scholarship Online: October 2018

DOI: 10.1093/oso/9780199731404.001.0001

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PRINTED FROM OXFORD SCHOLARSHIP ONLINE (oxford.universitypressscholarship.com). (c) Copyright Oxford University Press, 2021. All Rights Reserved. An individual user may print out a PDF of a single chapter of a monograph in OSO for personal use. date: 23 October 2021

The Cover Principle

The Cover Principle

(p.221) Seventeen The Cover Principle
Foundational Principles of Contract Law

Melvin A. Eisenberg

Oxford University Press

Chapter 17 concerns cover. The concept of cover embraces two separate but intimately related ideas: First, cover is an act—a buyer’s act of purchasing a commodity in the market to replace a contracted-for commodity that the seller failed to deliver. Second, cover is a remedy—a judgment for the difference between the contract price and the cost of cover. As a remedy cover has the look and feel of damages because the buyer ends up with a money judgment. As an act, however, cover constitutes virtual specific performance: by covering the buyer finds a replacement performance that, together with cover damages, is close to what he would have received if the seller had been ordered to specifically perform.

Keywords:   cover, cost of cover, cover as remedy, virtual specific performance, cover damages

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