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10 Cards in this Set
- Front
- Back
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Regular damages
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– focus is on injury of injured party. Only give them what they need to get to the status quo
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Compensatory damages
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what you get as compensation for being in a worse position because other party breached contract.
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Problematic
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: if you are in a better position because of their breach, then you do not get compensatory damages. It doesn’t encompass everything which is why compensatory damages is not the only kind you can receive
-Get you to where you would have been |
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Reliance damages
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had contract never been formed, where would we have been? Whatever amount of money it would take to get the non-breaching party to be at the position they rightfully occupied had contract never been formed is how much the breaching party must pay. Damages incurred on reliance that the contract would have been formed
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Reliance
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– expense incurred because of reliance on contract
Ex. – storage damages due to reliance Example: lost opportunity: relying on you to buy something from me so I did not sell it to someone else but then you didn’t buy them. Since you still have the potatoes, you wont get the full amount in damages. |
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Punitive damages
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: to punish evil and malicious wrongdoers. Intentionally wish to harm the other party and breach contract.
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Efficient breach of contract
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makes better business sense to breach contract and pay off other party than to perform
Court may sometimes rather have party breach contract than perform because it is better for society. |
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Liquidated damages
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clauses in some contracts that people put in that presets the damages that will be given in event of a breach of contract. Only enforced if court sees clause as a reasonable projection of what the damages would be at the time the contract was signed.
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Three things that limit your ability to get damages:
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1. Forsee-ablility requirement: (objective reasonable person contract) party is only responsible for damages that were foreseeable at time of the contract.
2. Certainty (but use SPECULATIVE): damages cannot be speculative. Show evidence of what the damages would be, not just assume. 3. Laches (Duty to Mitigate): their own damages. If you don’t attempt to mitigate your damages, tough luck. Only get damages for what your damages would have been had you mitigated them. (Does not require you to endanger or humiliate yourself) |
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Equitable Remedies
Specific performance: |
court ordering breaching party to perform or not perform because of breach (only for unique goods; ex. Real estate) lessen
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