Damages

Question 1

Damages

Answer 1

Damages is money given for an injury.

Question 2

Compensatory Damages

Answer 2

Compensatory Damages is money for the actual loss suffered. In Torts, CD puts the injured person in the same position he was in before the Tort occurred. In K’s, CD is to compensate the P for an actual loss or injury which was a result of the D’s acts.

Question 3

General Damages

Answer 3

General Damages are those damages that flow from the substantive wrong complained of, for all P’s, regardless of the special facts or circumstances.

Question 4

Cost Measure

Answer 4

Cost Measure is an alternative method for determining how much compensation should be. In Torts, this would be the Cost of Repair or Replacement. In K’s, this would be the cost of substitute performance.

Question 5

On a Remedies Exam

Answer 5

Once we have identified the appropriate causes of action, then we identify the appropriate remedy for this cause of action, we need to discuss the appropriate Legal remedies First (Money damages), then Equitable Remedies.

Question 6

Contract Legal Remedies

Answer 6

1). Compensatory (AKA Expectation Damages)

2). Consequential (Special) Damages

Question 7

Contracts Equitable Remedies

Answer 7

1). Specific Performance

2). Rescission

3). Declaratory Relief

4). Reformation

Question 8

Contract Remedies-MONEY DAMAGES

Answer 8

GENERAL: AKA (Compensatory/Expectation Damages): Where the P would be if not for the Breach. Calculate the difference between the K Price & Market Price. Look out for LVS (Loss Volume Seller) OR Liquidated Damages.

Question 9

Contract Remedies-MONEY Damages

Answer 9

SPECIAL: AKA (Consequential)-Hadley v. Baxendale.

Caused
Foreseeable
Certain
Unavoidable

Question 10

Contact Remedies-MONEY DAMAGES

Answer 10

Incidental: Out of pocket expenses to fix Breach problems.

Question 11

Contract Remedies-Court Orders EQUITABLE

Answer 11

Specific Performance: Land or Unique Item—Money Not good enough.

Question 12

Contract Remedies: Court Orders-EQUITABLE

Answer 12

Rescission: Undo the K. Due to: Mistake, Duress, Fraud.

Question 13

Contract Remedies-Court Orders-EQUITABLE

Answer 13

Reformation: To change the written K to reflect true agreement.

Question 14

Contract Remedies-QUASI K

Answer 14

Reliance requires:

1). A Promise

2). Reasonably relied on causing

3). Money Loss

4). Does NOT Need a K.

Question 15

Contract Remedies-QUASI K

Answer 15

Restitution:

1). Fair Market Value of Benefit given.

2). To prevent Unjust Enrichment.

3). NO Agreement needed