What is the purpose of compensatory damages quizlet?

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

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 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 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.

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 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 difference between compensatory and punitive damages?

Compensatory damages are given to the injured victim to help pay for medical expenses and other damages created, while punitive damages are meant to penalize the at-fault party.

Which the following is a measure of compensatory damages?

In most states, when a seller of real estate breaches a contract and sells the land to someone else, the measure of compensatory damages is: the difference between the market price and the contract price.

What is an example of compensatory?

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 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.

Are compensatory damages special damages?

Compensatory damages are further categorized into special damages, which are economic losses such as loss of earnings, property damage and medical expenses, and general damages, which are non-economic damages such as pain and suffering and emotional distress.

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 is the difference between compensatory damages and consequential damages What are nominal damages and when do courts award nominal damages?

Compensatory damages compensate for the special loss suffered; consequential damages compensate for the foreseeable consequences of the breach; incidental damages compensate for the costs of keeping any more damages from occurring; nominal damages are awarded if the actual amount cannot be shown or there are no actual ...

What type of damages are recoverable when the defendant's tortious conduct?

There are two categories of damages that a plaintiff may be able to recover: compensatory damages and punitive damages. Compensatory damages are designed to return the plaintiff to the position he was in before being injured by the defendant's negligence.

What are the 3 types of compensatory damages?

Which of the following qualifies for compensation as general damages?

General damages award the injured person for the non-monetary losses that they endured due to an accident. Non-monetary losses include pain and suffering, loss of companionship, physical disfigurement, mental anguish, and a general loss of enjoyment in life that results from diminished wellness.

What are consequential damages quizlet?

consequential damages. damages not arising directly out of breach of contract but as foreseeable result of the breach. benefit-of-the-bargain damaged. difference between the value received and the value of the fradulent party's performance as represented (majority)

What are punitive damages quizlet?

What are punitive damages? Damages awarded that are intended to punish the defendant for conduct that is extreme and outrageous.

What are consequential damages in contract?

Consequential damages, otherwise known as special damages, are damages that can be proven to have occurred because of the failure of one party to meet a contractual obligation, a breach of contract.

Which of the following is the general goal of compensatory damages quizlet?

What is the general goal of compensatory damages? To restore the plaintiff to the position he or she was in before the injury.