CHAPTER 18

CHAPTER 18 - CHAPTER SUMMARY Monetary Damages Compensatory...

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CHAPTER SUMMARY Monetary Damages Compensatory Damages contract damages placing the injured party in a position as good as the one he would have held had the other party performed; equals loss of value minus loss avoided by injured party plus incidental damages plus consequential damages Loss of Value value of promised performance minus value of actual performance Cost Avoided loss or costs the injured party avoids by not having to perform Incidental Damages damages arising directly out of a breach of contract Consequential Damages damages not arising directly out of a breach but arising as a foreseeable result of the breach Nominal Damages a small sum awarded where a contract has been breached but the loss is negligible or unproved Reliance Damages contract damages placing the injured party in as good a position as she would have been in had the contract not been made Damages for Misrepresentation Mann CH 18- 1
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Benefit-of-the-Bargain Damages difference between the value of the fraudulent party’s performance as
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This note was uploaded on 10/14/2010 for the course BUS 5503 taught by Professor Sorrell during the Fall '10 term at Troy.

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CHAPTER 18 - CHAPTER SUMMARY Monetary Damages Compensatory...

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