chapter 18 slide show Flashcards
The goal of criminal law
The goal of criminal law is to punish wrongdoers and deter future wrongdoing
The goal of tort law is to give
The goal of tort law is to give compensation to the wrong and punish the wrongdoer by imposing punitive damages.
Punitive damages are meant
Punitive damages are meant to punish the wrongdoer and deter future wrongdoing by others.
The goal of contract law is to
The goal of contract law is to compensate- not to punish. but To make whole.
it is To put in the same position the aggrieved would have been in, had the breaching party performed as they were supposed to.
their are No punitive damages in
contract law. reverse me
Attorney fees
A provision for the recovery of attorneys’ fees in the event of breach of contract can be included in the contract.
Parties can include a provision in the contract
Parties can include a provision in the contract that in case of a dispute the parties will go to arbitration.
arbitration example
many cell phone companies have an arbitration clause. In case of a dispute the customer can’t sue- has to go to arbitration.
Contract damages are designed to
Contract damages are designed to place the injured party in a position as good as the one he would have held had the other party performed per the contract.
Compensatory damages are equals
loss of value minus loss avoided by injured party plus incidental damages plus consequential damages.
LV-LA+ID+CD
The only way to get punitive damages in a contract case is
The only way to get punitive damages in a contract case is if you add a tort count to the lawsuit. That is if the breach is also a tort you will recover punitive damages on a tort theory of claim.
Liquidated damages
reasonable damages agreed in advance by the parties to a contract.
mitigation of damages
the injured party may not recover damages for loss he could have avoided by reasonable effort
Reasonable?
One has to make reasonable efforts to mitigate damages. If one does not, the losses that could have been reasonably mitigated/avoided are not recoverable from the breaching party.
Specific performance
Specific performance is court decree ordering a breaching party to render promised performance.