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<law><site_title>Virginia Decoded</site_title><site_url>https://vacode.org</site_url><law_id>84785</law_id><section_number>8.2-723</section_number><catch_line>Proof of market price; time and place</catch_line><edition url="https://vacode.org/2025/" slug="2025" current="TRUE" last_updated="">2025</edition><referred_to_by><reference>8.2-708</reference><reference>8.2-713</reference></referred_to_by><structure><unit label="title" level="1" order_by="1" identifier="8.2">Commercial Code - Sales</unit><unit label="part" level="2" order_by="1" identifier="7">Remedies</unit></structure><text>
						<section id="1"><p><span class="prefix-number">1.</span> If an action based on anticipatory repudiation comes to <span class="dictionary">trial</span> before the time for performance with respect to some or all of the goods, any <span class="dictionary">damages</span> based on market price (&#xA7; <a class="law" title="Seller's damages for nonacceptance or repudiation" href="/8.2-708/">8.2-708</a> or &#xA7; <a class="law" title="Buyer's damages for nondelivery or repudiation" href="/8.2-713/">8.2-713</a>) shall be determined according to the price of such goods prevailing at the time when the <span class="dictionary">aggrieved party</span> learned of the repudiation. <a id="paragraph-303787" class="section-permalink" href="https://vacode.org/8.2-723/#1"><i class="fa fa-link"/></a></p></section>
						<section id="2"><p><span class="prefix-number">2.</span> If <span class="dictionary">evidence</span> of a price prevailing at the times or places described in this title is not readily available the price prevailing within any reasonable time before or after the time described or at any other place which in commercial <span class="dictionary">judgment</span> or under usage of trade would serve as a reasonable substitute for the one described may be used, making any proper allowance for the cost of transporting the goods to or from such other place. <a id="paragraph-303788" class="section-permalink" href="https://vacode.org/8.2-723/#2"><i class="fa fa-link"/></a></p></section>
						<section id="3"><p><span class="prefix-number">3.</span> <span class="dictionary">Evidence</span> of a relevant price prevailing at a time or place other than the one described in this title offered by one party is not <span class="dictionary">admissible</span> unless and until he has given the other party such notice as the <span class="dictionary">court</span> finds sufficient to prevent unfair surprise. <a id="paragraph-303789" class="section-permalink" href="https://vacode.org/8.2-723/#3"><i class="fa fa-link"/></a></p></section></text><history>1964, c. 219.</history><metadata></metadata></law>
