Chapter_18

Chapter_18 - Chapter18 Remedies Introduction

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    Chapter 18 Remedies
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    Introduction Third party intended to receive benefit  by parties but does derive benefit from  performance.  
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    Monetary Damages 1. Compensatory Damages 1. Incidental 2. Consequential  2. Reliance Damages 3. Nominal Damages 4. Punitive Damages 5. Liquidated Damages
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    Compensatory Damages These are given for damages actually  occurring and hope to put party back in  as good a position as before the  contact. Deficient performance minus loss or  cost avoided by injured party plus  incidental and consequential damages  is normally what is recovered.
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    Compensatory Damages Loss of Value— Difference between  value of promised performance and  value of actual performance.  Expenses Saved— Recovery reduced  by cost or loss injured party has avoided  by not having to perform. 
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    Compensatory Damages Incidental Damages— These arise  directly out of breach  Consequential Damages— Damages  not arising directly from breach, but as a  foreseeable result of breach. 
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    Reliance & Nominal Damages Reliance Damages— Used if can’t 
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This note was uploaded on 03/08/2010 for the course BL 3305 taught by Professor Nunley during the Fall '09 term at Baylor.

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Chapter_18 - Chapter18 Remedies Introduction

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