LWC1 Chap 18 Flashcards.txt

When someone fails to perform a duty w/o a valid excuse

Method a court uses to compensate an injured party. Focus is how to help the injured party w/o unfairly harming the other person.

• 1.Injunction
• 2.Expectation damages
• 3.Specific performance
• 4.Liquidated damages clause

An order forcing someone to do something or refrain from doing something

Money required to put one party in the position she would have been in had the other side performed the contract

Used in cases of rare property. Forces both parties to complete the deal.

• 1.rare works of art
• 2.Real Estate
• 3.secret formulas
• 4.patents
• 5.shares in closely held corp.

Condition in contract that declares in advance what one party will receive if other breaches.

Legal right in something such as a contract

Identify the interest it is protecting

• 1.Expectation interest
• 2.Reliance Interest
• 3.Restitution Interest
• 4.Equitable Interest

Puts the injured party in the position she would have been in had both sides fully performed

• 1. Compensatory damages
• 2. Consequential damages
• 3. Incidental damages

flow directly from the contract as a result of breach. injured party must prove with reasonable certainty that breach caused damages.

result from the unique circumstances of the particular injured party. Injured may recover only if breaching party should have foreseen them

minor costs an injured party incurs responding to a breach.

Puts the injured party in the position he would have been in had the parties never entered into a contract. focuses on the time and money that the injured spent performing his part of agreement. If there is no valid contract court may reward reliance damages under promissory damages.

returns to the injured party a benefit that he has conferred on the other party, which it would be unjust to leave with that person.

results when the money is not enough to help the injured.

• 1.Specific performance-court orders parties to perform
• 2.Injunction-court order requiring someone to do or refrain from doing something
• 3.Reformation-court will partially re-write a contract if thinks written agreement has simple mistake or to save it

• Mitigation
• Nominal damages
• Liquidation damage clause
• Punitive damages

May not recover for damages he could have avoided with reasonable efforts

a token sum, such as a $1, given to an injured plaintiff who cannot prove damages

designed not to compensate the injured party but to punish the breaching party

• 1.reprehensibility of conduct
• 2.ratio between harm suffered and award
• 3.difference between punitive award and civil penalties used in similar cases