ISSUE:
In a contract for sale on negotiable securities, is the measure of damages for breach the difference between the contract proce and the market price at the date of the breach?
RULE:
If the seller holds on to the shares after breach, the speculation as to the way the market will subsequently go is the speculation of the seller and not of the buyer. The seller cannot recover from the buyer the loss below the market price at the date of the breach if the market falls, nor is he liable to the purchaser for the profit if the market rises. (confirm)