Chapter 16: Remedies
Card Set Information
Chapter 16: Remedies
Business Law and the Legal Environment, 5th Edition
The method the court uses to compensate an injured person.
An order forcing someone to do something to, or refrain from doing something.
The money required to put one party in the position she would have been in had the other side performed the contract.
Forces both parties to complete the deal.
LIQUIDATED DAMAGES CLAUSE
A provision in the contract that declares in advance what one party will recieve if the other side breaches.
A legeal right in something.
The goal is to put her in the position she would have been in if both parties had fully performed their obligations.
Unable to demonstrate expectation damages. So has to prove that he expended money so he shoule recieve compensation.
Unable to show expectation or reliance, but has conferred a benefit on the other party so restore the benefit she has provided.
No money damages is asked, more of a movement of property or an order forcing one party to stop doing something.
Are those that floe directly from the contract.
Are those resulting from the unique circumstances of those injured
Relatively minor costs that the injured party suffers when responding to the breach
To make a good faith purchase of goods similar to those in the contract.
Puts the injured party in the position he would have been in had the parties never entered into a contract.
Is designed to return to the injured party a benefit he has conferred on the other party. (w/ or w/out contract)
To "undo" a contract and put the parties where they were before they made the agreement.
A court order that requires someone to do something or refrain from doing something.
A process in which a court will partially rewrite a contract.
To keep damages as low as reasonable.
A token sum, such as a dollar, given to a plaintiff who demonstrates a breach but no serious injury.
A clause stating in advance how much a party must pay if it breaches.
Designed not to compensate the injured party but to punish the breaching party.