UGBA 175 Chapter Notes - Chapter 18: Consequential Damages, Damages, Specific Performance
4 Nov 2016
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Most common judicial remedies for breach: monetary damages, equity, restitution. Only awarded for losses that are foreseeable, established with reasonable certainty and unavoidable. Purpose to place injured party in position occupied if other party performed. Compensate for the dollar value of the benefits she would received had performance occurred less savings experienced by not having to perform her own obligations. Protect injured party"s expectation interest avoided by injured damages. Loss of value + incidental damages + consequential damages = loss or cost. Loss of value of actual performance rendered: difference between value of the promised performance and the value, value of promised performance value of actual performance, ex. Costs incurred to acquire the nondelivered performance from. Incidental damages: arise directly out of breach some other source. Consequential damages: lost profits and injury to person or property resulting from defective performance. Cost avoided: cost/ loss avoided by the injured party by not having to perform.
