Is lloyd correct in given condition and why

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Reference no: EM131386687

Mae contracted to sell one thousand bushels of wheat to Lloyd at $10 per bushel. Just before Mae was to deliver the wheat, Lloyd notified her that he would not receive or accept the wheat.

Mae sold the wheat for $9.60 per bushel, the market price, and later sued Lloyd for the difference of $400. Lloyd claims he was not notified by Mae of the resale and hence is not liable. Is Lloyd correct? Why?

Reference no: EM131386687

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