Chapter 13

Chapter 13 - Chapter 13-Breach and Remedies Assume we have...

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Chapter 13--Breach and Remedies - Assume we have a valid contract, and someone breaches. What is the result? - What is the difference between compensatory and consequential damages, as well as nominal damages? (Nominal damages-“I won, but I didn’t win much, like winning a dollar bet.” - Duty, Breach of Duty, Causation, Resulting in Injury. - What is standard measure of compensatory damages? - When is recission and restitution available? - When do courts grant specific performance as an option? Compensatory Damages - Must show your damages and amount. Difference between what the defendant promised to do and what they actually did. Consequential Damages - Forseeable damages that result from the contract. Punitive Damages - No relationship with actual damages. - Come up in the media as well as the movies, regarding cigarette claims, equipment manufacturing, etc. - Try to send a message saying “Don’t do this again.” Mitigation of Damages - You cannot just stand by and do nothing. For instance, if a factory works on a
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This note was uploaded on 04/20/2008 for the course BUS 200 taught by Professor Eidson during the Spring '08 term at Quincy.

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Chapter 13 - Chapter 13-Breach and Remedies Assume we have...

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