Remedies

Question 1

Types of monetary damages

Answer 1

1. Expectation Interest
2. Reliance Interest
3. Restitutionary Interest

Question 2

Expectation Damages

Answer 2

default rule for the proper measurement of damages in breach of contract cases is the expectation interest of the aggrieved party.

Aggrieved party will be entitled to the amount that will restore him to the position he would have been in had the contract been fully performed.

Question 3

Restitutionary Damages

Answer 3

Aggrieved party may recover: the value of the benefits conferred on the breaching party by the aggrieved party during the course of the contract

Question 4

Reliance Damages

Answer 4

The measurement of damages for the reliance interest of an aggrieved party is calculated by deter- mining the amount of money necessary to restore the aggrieved party to the position he was in prior to the contract.