Ark. Code Ann. § 4-2-723 (2026)
Proof of market price — Time and place
- If an action based on anticipatory repudiation comes to trial before the time for performance with respect to some or all of the goods, any damages based on market price (§ 4-2-708 or § 4-2-713) shall be determined according to the price of such goods prevailing at the time when the aggrieved party learned of the repudiation.
- If evidence of a price prevailing at the times or places described in this chapter 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 judgment 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.
- Evidence of a relevant price prevailing at a time or place other than the one described in this chapter offered by one party is not admissible unless and until he has given the other party such notice as the court finds sufficient to prevent unfair surprise.
History. Acts 1961, No. 185, § 2-723; A.S.A. 1947, § 85-2-723.
Case Notes
Evidence.
The trial court did not abuse its discretion in permitting the automobile dealer to testify to a national price for the limited issue automobile in order to establish the market price of the automobile at the time of the defendant-seller's breach, where the limited number of the automobiles made it difficult to prove a market price in a given geographic location, and where the buyer's national price was based on sales of those limited edition automobiles that he had made in at least nine states. Chappell Chevrolet, Inc. v. Strickland, 4 Ark. App. 108, 628 S.W.2d 25 (1982).
Cited: Wawak v. Stewart, 247 Ark. 1093, 449 S.W.2d 922 (1970).