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21 Cards in this Set
- Front
- Back
Compensatory Damages - Torts
Goal |
"rightful position"
To restore the injured party as nearly as possible to the position he would have been in but for the wrong |
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Compensatory Damages - Torts
Valuation |
FMV at the time of taking, injury [or even BoK]
also can get pre- and post-judgment interest |
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Compensatory Damages - Torts
Egg-shell Plaintiff Rule |
Defendant is liable to plaintiff for all damages proximately caused by defendant's conduct, whether or not those damages are foreseeable
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Compensatory Damages - Contracts
Goal |
"rightful position" - expectancy
To put the plaintiff in the position he would have been in had the breaching party performed the contract |
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Compensatory Damages - Contracts
Alternatives to Expectancy |
Reliance
- when K is void or nonexistent - puts plaintiff in the position he would have been in had he never entered the K Resitution |
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Compensatory Damages - Contracts
Consequential Damages |
must have been foreseeable at the time of contracting
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Compensatory Damages
Exceptions to FMV Analysis |
1. Crops (valuation at time of harvest)
2. Substitute facilities doctrine 3. Special use property / unique in some other way 4. Sentimental value exception 5. Fluctuating investment exception |
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Compensatory Damages
Exceptions to FMV Analysis Substitute Facilities Doctrine |
Must prove the uniqueness of the item
No ready market E.g. barge/dry-dock case |
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Compensatory Damages
Exceptions to FMV Analysis Special Use Property |
Two Possible Calculations
1. Preferred = Cost of reproduction less depreciation 2. Exceptional = Replacement or restoration cost Rule for Replacement/Restoration Cost: 1. Only when 1 doesn't work (e.g., no market value) 2. Replacement/Reconstruction must be "reasonably necessary" in light of the damage |
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Compensatory Damages
Exceptions to FMV Analysis Sentimental Value |
Very difficult to get
But if no real market, may be able to get at least something based on sentimental value |
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Compensatory Damages
Exceptions to FMV Analysis Fluctuating Investment Exception |
1. value of the loss at the time of the wrong
2. award highest value between time of wrong and time of trial 3. give plaintiff the highest value between the time he learned of the loss and a reasonable time thereafter when he could have replaced the securities |
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Compensatory Damages
General Damages (aka "Actual Damages") |
1. Stem from the injury itself, don't have to plead
2. Result from the violation 3. Default = FMV |
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Compensatory Damages
Special Damages (Tort = Consequential Damages) |
1. Proximate result of the injury
2. Must plead specifically 3. Different in Personal Injury Context |
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Compensatory Damages
Special Damages (Tort = Consequential Damages) Personal Injury Context |
1. Medical Expenses/Lost Earnings = special (economic)
2. Pain and Suffering = general (noneconomic) |
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Compensatory Damages
Incidental Damages (Consequential in UCC) |
UCC subset of consequential damages
Gives sellers more of a remedy |
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Compensatory Damages
Incidental Damages - UCC 2-715 "incidental damages" |
1. Resulting from the seller's breach and include expenses reasonably incurred in inspection, receipt, transportation, and care and custody of goods rightfully rejected
2. All any commercially reasonable charges/expenses/commissions in connection with covering |
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Compensatory Damages
Incidental Damages - UCC 2-715 "consequential damages" |
1. Resulting from the seller's breach and includes any loss resulting from general or particular requirements and needs of which the seller at the time of contracting "had reason to know" and shich could not reasonably be prevented by cover or otherwise
2. Also injury to person or property proximately resulting from any breach of warranty |
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Compensatory Damages
Loss of Use Analysis |
1. Must show a causal chain from the defendant's conduct to the injury
2. Must show evidence of the worth of the lost item |
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Compensatory Damages
When may a plaintiff recover for mental pain and suffering? |
General Rule = must have a physical injury
Exception = extreme cases BUT must be an individual injury, not collective |
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Compensatory Damages
Exceptions to FMV Analysis "unique in some other way" |
Rule = have to prove and actually replace (contrast to special purpose)
E.g., barge/dry-dock case |
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Compensatory Damages
Failed Payments |
Rule = when suing for a failed payment, all you can get is the principal plus interest (no consequential)
Exception = insurance company bad faith refusal to settle |