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7 Cards in this Set
- Front
- Back
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Remedy
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Damages for breach of a K should be measured as of the date of the breach. (Grossman)
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Breach by buyer for non-goods
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Costs incurred + Profits - Payments Received = Damages (Aiello)
K Price - Costs saved by breach - payments received = Damages (Aiello) |
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Breach by buyer for goods
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K price - Resale price = Damages
K price - Market price = Damages |
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Breach by seller for non-goods
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Cost of Completion is the baseline rule (Louise Caroline)
Cost of Completion - Price remaining to be paid = Damages (Dix) |
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Diminution in Value
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Three things must be true to use diminution of value:
1. There would be unreasonable economic waste. 2. The breach is merely incidental to the completion of the K. 3. The breach was in good faith (Droher) |
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Wilks
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Where the property has special significance to the owner and repair seems likely, the cost of repair may be appropriate even if it exceeds the diminution in value. (Wilks)
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Breach by seller for goods
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Cover has to be reasonable.
Cover Price - K price = Damages Market Price - K price = Damages |
