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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
Compensatory Damages - Torts

Valuation
FMV at the time of taking, injury [or even BoK]

also can get pre- and post-judgment interest
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
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
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
Compensatory Damages - Contracts

Consequential Damages
must have been foreseeable at the time of contracting
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
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
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
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
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
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
Compensatory Damages

Special Damages
(Tort = Consequential Damages)
1. Proximate result of the injury
2. Must plead specifically
3. Different in Personal Injury Context
Compensatory Damages

Special Damages
(Tort = Consequential Damages)

Personal Injury Context
1. Medical Expenses/Lost Earnings = special (economic)
2. Pain and Suffering = general (noneconomic)
Compensatory Damages

Incidental Damages
(Consequential in UCC)
UCC subset of consequential damages

Gives sellers more of a remedy
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
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
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
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
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
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