BLAW 2301 Lecture Notes - Lecture 9: Punitive Damages, Equitable Interest, Expectation Damages
Document Summary
Someone breaches a contract when he fails to perform a duty without a valid excuse: remedy is the method a court uses to compensate an injured party. First step court takes to choose a remedy to decide what interest it is trying to protect. Four principal contract interests that a court may seek to protect: Expectation interest - what the injured party reasonably thought she would get from the contract. Reliance interest - can recover damages if proves that he spent money in reliance on the agreement and that he should receive compensation. Restitution interest - showing that she has conferred a benefit on the other party. Objective is to restore to the injured party the benefit she has provided. Equitable interest - money damages will not suffice to help the injured party. More is needed like ordering breaching party to perform (specific performance) or to stop (injunction).
