Remedies

Question 1

Compensatory Damages

Answer 1

Expectation, consequential, incidental, liquidated, and sometimes punitive

Question 2

Expectation Damages

Answer 2

The benefit of the bargain

Question 3

UCC Seller Expectation Damages

Answer 3

Lost Volume Seller or Contract Price - Market Price or Contract Price - Reasonable Price

Question 4

UCC Buyer Expectation Damages

Answer 4

Cover of Contract Price - Market Price

Question 5

Consequential Damages

Answer 5

Available if foreseeable and certain

Question 6

Incidental Damages

Answer 6

Cost to make replacement contract

Question 7

Liquidated Damages

Answer 7

Difficult to ascertain at contract formation and reasonable forecast (not punitive

Question 8

Duty to Mitigate

Answer 8

Injured party has a duty to mitigate damages

Question 9

Specific Performance

Answer 9

Unique/rare and not difficult to supervise (e.g., land)

Question 10

Non-Contract Remedies

Answer 10

Unjust enrichment and promissory estoppel

Question 11

Unjust Enrichment

Answer 11

(1) conferred benefit; (2) reasonable expectation of compensation; and (3) express or implied request of other

Question 12

Promissory Estoppel

Answer 12

(1) promise reasonably expected to induce action; (2) reasonable reliance; and (3) enforcement as justice required