Bad as if having no conscious injured party attains

Info iconThis preview shows page 1. Sign up to view the full content.

View Full Document Right Arrow Icon
bad as if having no conscious) – injured party attains this money You can attain punitive damages for fraud but must sue in tort If you are discharged from performance, you must stop (don’t try piling on compensation damages – mitigation (to lessen) – you are obligated to mitigate damages; if the other party is in breach, do you have to stop right away? No, but do it at a reasonable time Sometimes people want something that is not money (party at breach sometimes wants to just pay to get it over with) Ex : promising property to someone but seller backs out – buyer wants property though instead of money – want compensation through specific performance – uniqueness – since no two pieces of property are the same - Legal remedies are monetary - Equitable remedies are nonmonetary (specific performance) Another example is personal services – having a performer (money won’t compensate) – that is the uniqueness; can’t duplicate – can’t sue on specific performance Can’t force someone to serve for you – indenture servitude – equitable remedy injunction : court order mandating someone to do something or not do something – during that period of time, that performer is not permitted to work anywhere else *not being forced to work here, but the only incentive to have someone not work more than one place contemptive court Liquidation : to convert to cash You don’t know the damages the buyer breachers; liquidated damages : MUST be expressed in the contract (not implied or assumed) – “In the event the buyer defaults,…” – can have this as long as it is compensation Damages can’t be a penalty – not meant to punish individual – can’t assess damages until breach actually occurs (unless expression takes place)
Background image of page 1
This is the end of the preview. Sign up to access the rest of the document.

{[ snackBarMessage ]}

Ask a homework question - tutors are online