Discharge of contract + remedies Flashcards
1
Q
What is cost of cure?
A
The usual method of calculating the expectation interest in contracts involving defective works (eg where a building is not built to the contract specification) is the cost of cure .
The cost of cure represents the cost of substitute or remedial work required to put the claimant in the position they would have been in had the contract been properly performed.
It should be noted that the claimant must act reasonably in relation to the defective works.
