Wendy's Remedies Outline

Wendy's Remedies Outline - WENDYS REMEDIES OUTLINE - FALL...

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Unformatted text preview: WENDYS REMEDIES OUTLINE - FALL PAGE 1 OF 14 COMPENSATORY DAMAGES RIGHTFUL POSITION R IGHTFUL P OSITION is entitled to be restored to s rightful position--the position wouldve occupied but for s wrong conduct, but is not entitled to a better position. may be put back to rightful position only once , and by the method that is least expensive to the Tort Theory s rightful position is the position wouldve occupied but for commission of the tort--usually 0 Contract Theory s rightful position is the position wouldve occupied if the contract had not been breached--not 0 but full value of the bargain s expectancy recovery is supposed to restore to his rightful position, but if cannot prove this with reasonable certainty, is reimbursed only the expenditures spent in reliance on the contract (which might not have goon to )--treating contract as tort and restoring to 0 (a known amount) E CONOMIC E FFICIENCY T HEORY allows breach of contract so that the goods go to the party valuing them the most, though there are limits B URDEN OF P ROOF bears the burden of proving the extent of damage, which may not be based on generalizations, assumptions, or arbitrary measurements is required to reasonably mitigate damages or forego some compensation; if s wrongful conduct saved money, damages are reduced by that M ETHODS Substitutionary Relief gives the monetary value of the thing was lost Specific Performance / Specific Relief gives the thing that was lost (not as common) D AMAGES General Damages / Direct Damages are for physical and emotional suffering in torts cases, compensating the for having suffered Special Damages are more remote damages and awarded if necessary to restore to his rightful position Consequential Damages are more remote damages in tort or breach of contract cases and compensate for something that has been lost (including money) Incidental Damages are minor damages in breach of contract cases, closely connected to but not defined as basic damages under the UCC FAIR MARKET VALUE FMV The general rule for compensatory damages is that will recover the FMV of any destroyed or lost property, or for the diminution in market value for the damaged property. If the property is the kind that depreciates with use, FMV will be less than replacement cost. FMV is what a buyer would pay a willing seller in an arms length transaction absent any artificial constraints An objective standard, enabling a finder of fact to make an assessment based on the info given and not anyones state-of-mind or subjective belief D EVIATION F ROM FMV is allowed when the market value is difficult or impossible to determine (usually because there is no active market) or where it would otherwise be manifestly unjust (and replacement value is usually used)....
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This note was uploaded on 10/24/2010 for the course PR 123 taught by Professor Gramer during the Spring '06 term at Loyola Law School Los Angeles.

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Wendy's Remedies Outline - WENDYS REMEDIES OUTLINE - FALL...

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