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10 Cards in this Set
- Front
- Back
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special damages that compensate for a loss that is not direct or immediate special damages must have been reasonably foreseeable at time breach or injury occurred in order for the plaintiff to collect them
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consequential damages
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losses reasonably associate with, or related to, actual damages resulting from a breach of contract
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incidental damages
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an amount, stipulated in the contract, that the parties to a contract believe to be a reasonable estimation of damages that will occur in the event of a breach
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liquidated damages
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a rule requiring a plaintiff to have done whatever was reasonablo minimize the damages caused by the defendant
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mitigation of damages
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a small monetary award granted to a plaintiff when no actual damage was suffered or when plaintiff is unable to show such loss with sufficient certainty
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nominal damages
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sum inserted into a contract, not as a measure of compensation for its breach but rather as punishment for a default agreement as to the amount will not be enforced, and recovery will be limited to actual damages
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penalty
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court-ordered correction of a written contract so that it reflects true intentions of the parties
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reformation
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equitable remedy under which a person is restored to his original position prior to loss/injury, or placed in position he would have been in had breach not occurred
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restitution
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equitable remedy requiring breaching party to perform as promised under the contract; usually granted only when money damages would be an inadequate remedy and subject matter of contract is unique
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specific performance
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intentional, knowing relinquishment of a legal right
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waiver
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