Remedies

Question 1

2 Types of Remedies

Answer 1

1. Breaching party fulfills its obligations in the contract (specific performance)
2. Breaching party pays the non-breaching party a sum of money

Question 2

specific performance

Answer 2

1) It doesn’t satisfy damages

2) It would be impossible to satisfy with monetary damages

Question 3

Damages v. Remedies

Question 4

Efficient Contract Breach

Answer 4

A voluntary breach of contract and payment of damages by a party who concludes that they would incur greater economic loss by performing under the contract.

Acme Mills & Elevator Co v. Johnson

Question 5

Disgorgement of Profits

Answer 5

A remedy requiring a party who profits from illegal or wrongful acts to give up any profits he or she made as a result of his or her illegal or wrongful conduct. The purpose of this remedy is to prevent unjust enrichment.

No remedy must be available for this to apply that would make the plaintiff held.

Attorney General v. Blake

Question 6

Arbitration Provisions

Answer 6

Is it freedom of contract or is it forced arbitration?

Question 6

Arbitration Provisions

Answer 6

Is it freedom of contract or is it forced arbitration?

Question 7

Direct v. Indirect Damages

Answer 7

Direct damages are the ones directly related to and are proximately caused by the breach. Indirect damages are consequential damages caused by the breach. The defendant is only liable to foreseeable consequential damages that are reasonably foreseeable to arise from the breach.

It’s improtant