What is the general goal of awarding compensatory damages in a breach of contract situation quizlet?

Asked by: Prof. Rae Bergstrom  |  Last update: December 1, 2022
Score: 4.4/5 (45 votes)

The primary goal of compensatory damages is to compensate a nonbreaching party for the loss of the bargain. Substantial performance constitutes a minor breach of the contract. Specific performance is usually available for the buyer in contracts for the sale of land.

What is the general goal of awarding compensatory damages in a breach of contract situation?

Compensatory damages (also called “actual damages”) cover the loss the nonbreaching party incurred as a result of the breach of contract. The amount awarded is intended to make good or replace the loss caused by the breach.

What is the purpose of compensatory damages quizlet?

The purpose of compensatory damages is: to provide the nonbreaching party with sufficient money to pay for any damages that were actually sustained.

What is the objective of awarding damages quizlet?

What is the objective of the common law concept of damages? To place the plaintiff, as far as money is able to, in the same position he would be in if the contract had been performed properly.

What are compensatory damages quizlet?

compensatory damages. Money awarded to a plaintiff to compensate for damages, injury, or another incurred loss.

Contract Law Remedies for Breach: Damages (Compensatory, Incidental, Consequential)

21 related questions found

What are the types of compensatory damages quizlet?

The two types of compensatory damages that can arise out of an injury are special damages and general damages. Special damages are awarded to an injured party for tangible losses.

What are two types of compensatory damages?

There are two types of compensatory damages—general and actual. Actual damages are intended to provide funds to only replace what was lost. General compensatory damages awarded are more complex, as these compensatory damages do not represent a monetary expenditure.

What is the objective of awarding damages?

The purpose of the awarding damages in contract law is to place the plaintiff in a position as if the contract had been performed. Damages aim to compensate the plaintiff for his loss that resulted from the defendant's breach of contract, rather than to punish the wrongdoer.

What is the basic object of awarding damages in contract law quizlet?

The objective of awarding damages is to put the innocent party in the financial position that they would be in, if the contract had been performed properly.

What is the objective of awarding damages bus201?

What is the objective of awarding damages? To place the plaintiff, as far as money is able to, in the same position he would be in if the contract had been performed properly. To compensate the plaintiff for monetary loss and emotional distress.

What is the difference between compensatory and punitive damages quizlet?

What is the difference between compensatory and punitive damages? Compensatory damages are intended to compensate the injured for the loss. When a tort is intentional, punitive damages may also be awarded to punish the person who committed the tort. Distinguish between evidence and testimony.

When a party to a contract breaches the contract the other party is usually legally entitled to?

Once one party to a contract indicates--either through words or actions--that it's not going to perform its contract obligations, the other party can immediately claim a breach of contract (failure to perform under the contract) and seek remedies such as payment.

What are the purposes of nominal damages actual damages and punitive damages?

Nominal damages are damages in name only, a trifling sum awarded to recognize an infringement of rights without resulting substantial loss or injury. Punitive damages are a penalty used where a defendant's conduct has been particularly egregious, vindictive, or malicious; they are not compensation for injury.

What is compensatory damages in breach of contract?

If you suffer a loss resulting from a breach of contract, you may be awarded damages to compensate you for that loss. This means that a court orders the party who has breached the contract to compensate you, the innocent party, for losses caused by their breach.

What is damages in breach of contract cases awarded for?

Damages awarded for breach of contract. Generally, the purpose of an award of damages for breach of contract is to compensate the injured party. The general rule is that damages are meant to place the claimant in the same position as if the contract had been performed.

What is the standard measure of compensatory damages when a contract is breached?

The standard measure of compensatory damages is the difference between the value of the breaching party's promised performance under the contract and the value of her or his actual performance. This amount is reduced by any loss that the injured party has avoided.

What is damages in breach of contract cases awarded for quizlet?

Terms in this set (16) An award of damages is usually remedy for breach of contract. It is an award of money that aims to compensate innocent party for the financial losses they have suffered as a result of the breach. Damages for breach of contract are available as a right where the contract has been breached.

In what situations would a court be likely to award a quasi-contract Choose 2 answer choices?

What must a plaintiff show to be awarded a quasi-contract in a lawsuit? The defendant was unjustly enriched. In a unilateral contract: substantially undertaking performance prevents the offeror from revoking the offer.

What is the difference between legal remedies and equitable remedies for breach of contract quizlet?

What is the difference between legal remedies and equitable remedies for breach of contract? Legal remedies are monetary while equitable remedies are non-monetary.

What is the basic aim of recovery of compensation in breach of contract cases?

The aim being to compensate the true loss suffered by the innocent party and place them in the same position, so far as it is possible to do so using only money, as if the contract had been performed.

What are the factors the court will consider when awarding damages?

Factors Affecting The Amount Of Damages Awarded
  • Defendant Liability.
  • Contributory and Comparative Negligence.
  • Credibility of the Parties.
  • Age of the Plaintiff.
  • Witness Testimony.

What is the purpose of damages and remedies in contract law?

As the purpose of contract remedies is, in general, to make the nonbreaching party whole, the law allows several types of damages (money paid) to reflect the losses suffered by the nonbreaching party.

What are compensatory damages also known as?

Compensatory damages are also referred to as “actual damages.” It means the objective dollar amount needed to compensate (hence, the name) a plaintiff for the monetary value of what they either lost or incurred because of the injury. Typical compensatory damages in an injury claim include: Medical bills.

What are some examples of compensatory damages?

For example, if the plaintiff was badly frightened and suffered nightmares, increased blood pressure, or other anxiety related symptoms which prevented him from working or fully enjoying his life, he could seek damages for "emotional distress." If any of his property was damaged, compensatory damages could also include ...

What does it mean to award damages?

At common law, damages are a remedy in the form of a monetary award to be paid to a claimant as compensation for loss or injury. To warrant the award, the claimant must show that a breach of duty has caused foreseeable loss.