LGST 101 Lecture 22

You can go to equity but you must show why answer at

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You can go to equity, but you must show why answer at law is inadequate How to receive remedies? o Expectation damages – money you would receive had the contract been fulfilled (the damages you would expect to get) You know what the expectation damages are As if contract has been completed One end of spectrum o Reliance damages Suppose contract is partially completed The expenses you have already incurred are what you can sue for Reimbursement for the money you paid We can’t pay expectation damages, since we don’t know what they would be Net it out to 0, so you have 0 loss Take you back to where you were before the contract even occurred On the other end of spectrum o Restitution damages Plaintiff has done work for defendant, and has transferred value to defendant Defendant has received value, so defendant must pay for damages – pay for what you receive Opposite sides of the product/service of reliance This contract has not been completed, but you have transferred value o Liquidated damages Come when you have no way to project what your actual loss would be Therefore, you put clause in contract says that defendant will pay me so much Build in payment schedule… For this to apply, to criteria must be met: Damages you are seeking must be impossible, or almost impossible, to determine The sum that you put in your liquidated damages clause must be reasonable
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o Provision interorum – denies defendant freedom of choice We are going to charge you so much in liquidated damages that you must end up working on our project alone This is not allowed You can’t demand an unreasonable sum o There are also equitable remedies, like specific performance and injunction Other damage concepts o Nominal damage If you can’t show injury, courts might give you some nominal damage You won the case, but you can’t show damages You’ll get some nominal amount of money o Punitive damage Punishment damages You are punished for something you knew was wrong Suppose a contractor builds a building, but uses substandard materials Can sue for punitive damages o Treble damages Put in place by government Idea is to encourage you to sue, to bring lawsuits Applies to few cases If you get into something that would affect market (like oligopoly, or something)
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  • Fall '08
  • Miller
  • Contract Law, Judicial remedies, promissory estauple

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