LAW 122 Lecture Notes - Lecture 12: Expectation Damages, Fundamental Breach, Punitive Damages
9 Nov 2018
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Chapter 12: contractual remedies: one or more remedies may be available if a contract is breached. If i agree to sell my car to you, but later break my promise after you paid the price, you"re (cid:374)ot e(cid:374)titled to the (cid:272)ar itself but the monetary value of the car. Backward looking damages are easily justified, allow plaintiff to recover value of something that they enjoyed but lost. Forward looking damages go further, allow plaintiff to recover value of something they never enjoyed but expected to receive under their contract with the defendant. Expectation damages provide assurance if a promise is not fulfilled, innocent party will be able to recover monetary value. Expectation damages = expected benefits under the contract costs under the. Contract: contract is a gamble; neither party knows how the expectation will turn out, value you get in damages depends on: Increased value; if the market price has increased then you must fulfill expectation of receiving that amount.
