4 Written questions
4 Multiple choice questions
- The starting point in calculating compensatory damages is to determine the loss in value of the performance that the plaintiff had the right to expect.
- 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.
- 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.
- compensate for reasonable cost that injured part incurs the breach in an effort to avoid further loss.
4 True/False questions
Legal Remedies (damages) → An injured parties ability to recover damages in a contract action is limited by three principles
Specific Performance → awarded in addition to the compensatory remedy that are designed to punish a defendant for particularly reprehensible behavior and to deter the defendant and others from commenting similar damages.
Compensatory Damages → A person who has been injured by a breach of contract is entitled to recover compensatory damages
Normally, compensatory damages include 1 or more of three possible items:
1)Loss in value
2)Allowable consequential damages
3)Any allowable incidentals
Nominal Damages → compensate for reasonable cost that injured part incurs the breach in an effort to avoid further loss.