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20 Cards in this Set

  • Front
  • Back
Expectation interest
The non breaching party get the benefit of the bargain
Reliance interest
The non breaching party receives the cost of partial performance or preparation to perform
Restitution interest
One party receives the value of the benefit conferred on the other party
Compensatory (direct) damages
Buyer of goods recovers...
cover price minus contract price for sellers breach
Compensatory (direct) damages
seller of goods recovers...
contract price minus fair market value for buyer's breach
Compensatory (direct) damages
buyer of services recovers...
cover price minus contract price for provider's breach
Compensatory (direct) damages
provider of services recovers...
lost profit plus cost of partial performance (or contract price if complete performance)
Consequential damages
Indirect, forseeable damages

Lost profits are consequential damages
Incidental damages
Cost of finding substitutive performance

Mitigation of damages- non breaching party is usually required to make reasonable efforts to lessen damages from breach
Punitive damages
Damages awarded to punish the defendant and to deter others from similar conduct

Typically available only for intentional torts
Nominal damages
A small amount of damages given to a party who wins but can show no monetary injury

Examples: Car accident with no injury, trespass action, employment discrimination
Liquidated damages
Damages in a fixed agreed on by the parties prior to any breach

Requirement: damages difficult to estimate, must be a reasonable amount.

Penalties are unenforcable
Equitable remedies are allowed when...
monetary damages alone must be inadequate

Person seeking equitable remedy must be acting fairly
Types of equitable remedies
orders to do or refrain from an act. Orders to change a status

The judge decides facts
Legal remedies
Required avenue where monetary compensation is sufficient

Right to have a jury decide facts
Recission and restitution
Cancelation of the contract and restoration of the status quo

Available when there is a lack of reality of consent
Specific performance
A court order requiring a party to perform the terms of the contract

Only available for unique items

land is always unique
Quasi contract
One party provides a service or benefits to another party

The other party is unjustly enriched if there is no payment for the benefit
A court order that something be done or stopped

Money damages must be inadequate

Irrepairable injury must result if there is no injunction
An oral agreement is imperfecctly reduced to writing so the agreement is revised by court to confirm to the parties intent