CH 14 - Remedies

Question 0

COMPENSATORY DAMAGES

Answer 0

Return original value

Question 1

INCIDENTAL DAMAGES

Answer 1

Damages that compensate for direct expenses related to a breach of contract (Storage, care, transport, etc.)

Question 2

CONSEQUENTIAL DAMAGES

Answer 2

When you lose money you would’ve won. Lost of profit because of prior deal. Knowledge needed!!!!

Question 3

PUNITIVE DAMAGES

Answer 3

Such damages have no legitimate place in contract. They are essentially penalties.

Question 4

NOMINAL DAMAGES

Answer 4

Small monetary award granted to a plaintiff when no actual damage was suffered.

Question 5

MITIGATION OF DAMAGES

Answer 5

Plaintiff look for another solution in order to minimize the damages caused by the defendant.

Question 6

MITIGATION DAMAGES

Answer 6

Damages you suffer. Little piece that you couldn’t finish. Still screwed but less than before.

Question 7

LIQUIDATED DAMAGES CLAUSE

Answer 7

Preset amount of damages, stated in contract, in case of breach.
ONLY allowed if:
- Neccessary
- Reasonable/ Fair
- Not a penalty

Question 8

SPECIFIC PERFORMANCE

Answer 8

Unique goods, when monetary damages is inadequate. Court orders to perform as stated in the contract.

Question 9

INJUCTION

Answer 9

Court orders to stop doing something and to stick to what the contract says.

Question 10

QUASI - CONTRACT

Answer 10

Sort of, like a contract.

Legal theory under which an obligation is imposed in the absence of agreement.

Question 11

UNJUST ENRICHMENT

Answer 11

People should NOT get what they DO NOT deserve.

Question 12

QUANTUM MERUIT

Answer 12

People should get what they deserve.