LAW 122 Lecture Notes - Lecture 12: Expectation Damages, Fundamental Breach, Damages
26 Feb 2015
School
Department
Course
Professor
Document Summary
Chapter 12-contractual remedies: damages, damages is an award of money that is intended to cure a wrongful event, such as a breach of contract. The nature of that remedy needs to be stressed. Except in rare cases, the plaintiff is not entitled to receive the exact thing that they expected to get under the agreement. Expectation damages are forward-looking because they are intended to place the plaintiff in the position that they expected to be in after the contract was properly performed. Cost of cure or loss of value. Intangible losses and emotional distress: an intangible loss is a loss that does not have any apparent economic value. Mitigation of damages: mitigation occurs when the plaintiff takes steps to minimize the losses flowing from the defendant"s breach, the plaintiff is not required to mitigate. Reliance damages represent the monetary value of the expenses and opportunities that the plaintiff wasted under a contract.
