Remedies Flashcards
Legal remedy
money
Expectation damages
position had the contract been performed
foreseeable and with a reasonable certainty
formula
contract price was-what you would have received+ any costs
must be foreseeable
reliance damages
any damages to put me in a position as i would have been prior to the contract
applies when i could not have gotten expectation damages
costs i have spent
restitutionary damages
value what i gave you and what i want back; i want value of what i have already paid you when you breach
non-breaching party= expectation or restitution (partially performed)
consequential damages
as a consequence of the breach, i have to do certain things (foreseeable becasue of the breach)
incidental damages
out of pocket damages
liquidated damages
damages determined at the time of k
can you enforce liquidated damages?
yes if reasonable– 10% or less. more than that looks like a penalty
quantum meruit
breaching party can recover the value of the work they did- any damages they did
UCC- seller’s damages
if goods have been delivered and accepted, you get k price
if some are delivered but have not been resold after you breach
contract price-market price
some have not been delivered so i sold after your breach
contract price-resale price
seller can always get
incidental damages
lost volume seller
seller can sell as many as possible. i am losing something else. i can find lost profits
what profit would have been+ costs-payment for resale
