Calculating Damages

Question 1

what is the long way equation

Answer 1

Promise position (total profit i if the contract was performed - total expense to perform to earn the revenue) - Actual position (-x (anything already spent) + any additional costs - any offsetting benefits)

Question 2

what is Brennan J’s formula for calculating damages

Answer 2

B = x + y +/- z
B - y, or
X + z

B = benefits the plff would have been received if the contract had been performed 
X = money spent in preparation of the contract / reliance interest 
Y = anything still left to be incurred 
Z = profit/loss that would have eventuated had the contract been performed