4 Written questions
4 Multiple choice questions
- compensate for losses that occur as a consequence of contract.
- In exceptional cases in which money damages alone are not adequate to fully compensate for a party's injuries, a court may grant an Equitable Remedy either alone or in combination with a legal remedy.
- A party can recover damages only for those losses that they can prove with reasonable certainty. losses that are purely speculative recoverable
A breaching party is responsible for paying only those losses that were foreseeable to him at the time of contracting.
Plaintiff injured by a breach of contract have the duty to mitigate (avoid or minimize) damages.
- compensate for reasonable cost that injured part incurs the breach in an effort to avoid further loss.
4 True/False questions
Liquidated Damages → compensate for reasonable cost that injured part incurs the breach in an effort to avoid further loss.
Punitive Damages → The normal measure of compensatory damage is not appropriate in every case.
When it is not appropriate, a court may use an alternative measure of damages.
Nominal Damages → very small damages awards that are given when a technical breach of contract has occurred without causing any actual or provable economic loss.
Legal Remedies (damages) → An injured parties ability to recover damages in a contract action is limited by three principles