Remedies - Contract

Question 1

Kinds of damages (six)

Answer 1

1) Nominal
2) Compensatory
3) Aggravated
4) Exemplary
5) Liquidated
6) Foreign Currency

Question 2

Two compensatory principles

Answer 2

1) Expectation loss basis (back in the position they would have been…) = cost of cure/difference in value
2) Reliance loss basis (C in position they would have been had contract never been formed) = wasted expenditure - only where cannot quantify expectation loss

Question 3

Causation - factual

Answer 3

But for

Question 4

Causation - legal

Answer 4

Breach an effective cause of the loss

Question 5

Remoteness

Answer 5

Direct loss (flows from breach) or consequential loss (reasonably supposed to be in the contemplation)

Question 6

Measure of loss - non-payment

Answer 6

Action for price

Question 7

Measure of loss - non-acceptance of goods

Answer 7

Difference between contract and market price

Question 8

Measure of loss - non-delivery of goods

Answer 8

Difference between contract and market price

Question 9

Breach of implied term to quality

Answer 9

Difference in value

Question 10

Breach of warranty

Answer 10

Difference in value of goods received from value had warranty been true

Question 11

Property damage

Answer 11

Diminution of value, sometimes reinstatement

Question 12

Mental distress

Answer 12

Not usually recoverable (except holidays)

Question 13

Equitable remedies

Answer 13

• Rescission
• Rectification
• Restitution
• Specific performance
• Injunctions