150

LAWS OF MARYLAND

[Ch. 49

2—723. Proof of market price; time and place.

(1)   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 (§ 2—708 or § 2—713) shall be determined
according to the price of such goods prevailing at the
time when the aggrieved party learned of the repudiation.

(2)   If evidence of a price prevailing at the times
or places described in this [subtitle] 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 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.

(3)    Evidence of a relevant price prevailing at a
time or place other than the one described in this
[subtitle] TITLE 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.

2-724. Admissibility of market quotations.

Whenever the prevailing price or value of any goods
regularly bought and sold in any established commodity
market is in issue, reports in official publications or
trade journals or in newspapers or periodicals of general
circulations published as the reports of such market
shall be admissible in evidence. The circumstances of
the preparation of such a report may be shown to affect
its weight but not its admissibility.

2—725. Statute of limitations in contracts for sale.

(1)   An action for breach of any contract for sale
must be commenced within four years after the cause of
action has accrued. By the original agreement the
parties may reduce the period of limitation to not less
than one year but may not extend it.

(2)   A cause of action accrues when the breach
occurs, regardless of the aggrieved party's lack of
knowledge of the breach. A breach of warranty occurs
when tender of delivery is made, except that where a
warranty explicitly extends to future performance of the
goods and discovery of the breach must await the time of
such performance the cause of action accrues when the
breach is or should have been discovered.

(3) Where an action commenced within the time