Missouri Furnace Co. v. Cochran

Cochran (defendant) contracted to deliver 36,621 tons of coke to Missouri Furnace (plaintiff) at $1.20 per ton in daily installments, but after delivering only 3,765 tons, Cochran rescinded the contract and stopped delivering. Missouri Furnace then contracted with a new supplier, Hutchinson, for similar installment deliveries at $4.00 per ton — the prevailing market rate at the time — but the market price of coke fell sharply right after that replacement contract was signed. Missouri Furnace sued Cochran for the difference between the original contract price and the Hutchinson contract price, but the court instead awarded only $22,179, the difference between the Cochran contract price and the actual market price of coke at each scheduled delivery date; Missouri Furnace moved for a new trial.