UGBA 175 Lecture Notes - Lecture 19: Condition Subsequent, Rescission, Guesstimate

• School: Berkeley
• Department: Business Administration Undergraduate Program
• Course: UGBA 175
• Professor: Alan Ross Alan

Document Summary

Reasonable forecast of the losses at the time the contract is signed. You are not allowed to guesstimate randomly ((cid:498)(cid:882)(cid:882),(cid:882)(cid:882)(cid:882)(cid:499) an arbitrary. You want this if damages are difficult to quantity/ can"t predict damages amount) court will not enforce it. You can put in a contract or have notes about how the amount was calculated. 6a: specific performance granted because shares are unique. 6b: no specific performance because not unique (can sue for compensatory damages if buying other shares would be more expensive) 14: liquidated damages /day: couldn"t prove, court called it a fine and threw it out. 16: b has duty to mitigate, ed has duty to show there was comparable employment but did not b wins. 17: liquidated damages for 4. 4 million, breached but c&h got another tugboat actual loss was 38k: court still gave them 4. 4 million dollars.