Remedies Review - Remedies Review Punitive damages: Should...

Info iconThis preview shows pages 1–2. Sign up to view the full content.

View Full Document Right Arrow Icon
Remedies Review Punitive damages: Should not be given in a K where you can punish the person for their malicious manner To deter the wrongdoer from acting this way in the future 4 situations where PD may be recovered: Where a breach is accompanied by an independent tort Where there is a breach for what is called a fiduciary (trust) relationship If you breach your obligation of good faith, you might be liable for punitive damages, in most states, limited to insurance K. In CA, pretty much has a cause of action in most any K. Treble Damages: prove your real damage, and the courts will triple it. Damages under the UCC: Buyer If the seller breaches the buyer should cover, then the recovery will be the higher cover price-K price. Cover is a good faith substitute If you don’t cover, you can go out and do the higher market price-K price at the time of breach. You have to bring experts in to show the market price Seller: Seller is supposed to go out and resell the goods. K price-resale price
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Image of page 2
This is the end of the preview. Sign up to access the rest of the document.

This note was uploaded on 10/20/2009 for the course CONTRACTS 108 taught by Professor Cox during the Fall '08 term at McMaster University.

Page1 / 2

Remedies Review - Remedies Review Punitive damages: Should...

This preview shows document pages 1 - 2. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online