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BSL_18- Contract Remedies
Course: BSL 212, Spring 2011School: UConn
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Compensatorydamages BSL_18 ContractRemedies 17:45 MonetaryDamages(LegalRemedies) o Lossofvaluedifferencebetweencontractpriceandmarketvalue o IncidentalDamagescostsofgettingsubstituteperformance o ConsequentialDamagesdamagesthatarecausedbythebreachbutarisefrom circumstancesoutsidethecontract Mustbeforeseeable(breachingpartykneworhadreasontoknowthatifthey breachedtheywouldsuffer)...
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Compensatorydamages BSL_18
ContractRemedies
17:45
MonetaryDamages(LegalRemedies) o Lossofvaluedifferencebetweencontractpriceandmarketvalue o IncidentalDamagescostsofgettingsubstituteperformance o ConsequentialDamagesdamagesthatarecausedbythebreachbutarisefrom circumstancesoutsidethecontract Mustbeforeseeable(breachingpartykneworhadreasontoknowthatifthey breachedtheywouldsuffer) Reliancedamagesdamagesthatoccurasaresultofrelianceonthebreachedcontract o Mustbeforeseeable Nominaldamagesaredamagesinnameonly,theyarepurelysymbolic PunitiveDamagesawardedtopunishadefendant,veryrare(fraud,malicious actions) LimitationsonAwardofMonetaryDamages Mustbeforeseeable o o Mustbeprovenwithreasonablecertainty o Dutytomitigatedamagesnonbreacherhasadutytolessen/minimizethe damages LiquidatedDamageswherethepartiesagreeaheadoftimethatifthecontractis breachedthebreachingpartywillpayaspecificamountofmoney o Mustbereasonablyrelatedtowhatactuallossesmightbe EquitableRemedies Specificperformancesubjectmatterofthecontractmustbeunique(theonlyway youcangetthebenefitofyourbargainistohavethepartyperform) o Realestatepresumedtobeunique(whenthesellerbreaches) o Goodsmustbeprovedunique o NotforServices Injunctionpreventsomeonefromaspecificperformance o (Performingoftheactwillcauseyouharm)
17:45
17:45
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