LAW 122 Lecture Notes - Fundamental Breach, Senescence, Personal Services
12 Dec 2012
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Document Summary
Damages is an award of money that is intended to cure a wrongful event, such as a breach of contract. The plaintiff is not entitled to receive the exact thing that it expected to get under the agreement. It is entitled to only the monetary value of that thing. Expectation damages represent the monetary value of the benefit that the plaintiff expected to receive under the contract. Expectation damages are forward-looking because they are intended to place the plaintiff in the position that it expected to be in after the contract was properly performed. Expectation damages = expected benefits under the contact - cost under the contract. However, judges usually refuse to award damages on a cost of cure basis if the difference between the cost of cure and the benefits of the cure is unreasonable large. Intangible loss is a loss that does not have any apparent economic value.
