Remedies Flashcards
1
Q
What are the types of Contractual Remedies?
A
- Legal Remedies
- Equitable Remedies
- Statutory Remedies
2
Q
Explain Legal Remedies
A
Damages
- Puts V in position as if contract were completed by D
Compensation either from expectation or reliance loss
3
Q
What is Expectation loss for Damages?
A
Loss of a bargain
If no Loss, no damages
- Charter v Sullivan
Can only recover damages that were in reasonable in contemplation of parties
- Victoria Laundry v Newman
4
Q
What is Reliance Loss for Damages?
A
Wasted Expenditure - puts innocent party to position they would be in if contract were performed
- Anglia TV v Reed
5
Q
What are Restitutionary Damages
A
Return parties to position they would’ve been in if the contract had never existed
