Code of Virginia

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Code of Virginia
Title 8.1A. Uniform Commercial Code — General Provisions
Part 3. Territorial Applicability and General Rules
12/1/2022

§ 8.1A-305. Remedies to be liberally administered.

(a) The remedies provided by the Uniform Commercial Code shall be liberally administered to the end that the aggrieved party may be put in as good a position as if the other party had fully performed but neither consequential or special damages nor penal damages may be had except as specifically provided in the Uniform Commercial Code or by other rule of law.

(b) Any right or obligation declared by the Uniform Commercial Code is enforceable by action unless the provision declaring it specifies a different and limited effect.

1964, c. 219, § 8.1-106; 2003, c. 353.

The chapters of the acts of assembly referenced in the historical citation at the end of this section may not constitute a comprehensive list of such chapters and may exclude chapters whose provisions have expired.