Section 1-305. (a) The remedies provided by this chapter must 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 nor special damages nor penal damages may be had except as specifically provided in this chapter or by other rule of law.
(b) Any right or obligation declared by this chapter is enforceable by action, unless the provision declaring it specifies a different and limited effect.