1. Business Law II Professor Pamela Gershuny
Fall 2000
Business Law II Professor Pamela Gershuny

3. BUSINESS LAW II
Damages

4. Remedy: Compensatory Damages
BUSINESS LAW II
Damages
Remedy: Compensatory Damages
Availability
A party sustains and proves an injury arising directly from the loss of the bargain.
Result
The injured party is compensated for the loss of the bargain.

5. BUSINESS LAW II
Damages

6. Remedy: Consequential Damages
BUSINESS LAW II
Damages
Remedy: Consequential Damages
Availability
Special circumstances, of which the breaching party is aware of, should be aware, cause the injured party additional loss.
Result
The injured party is given the entire benefit of the bargain.

7. BUSINESS LAW II
Damages

8. Remedy: Punitive Damages
BUSINESS LAW II
Damages
Remedy: Punitive Damages
Availability
Damages are normally available only when a tort is also involved.
Result
The wrongdoer is punished, and others are deterred from committing similar acts.

9. BUSINESS LAW II
Damages

10. Remedy: Nominal Damages
BUSINESS LAW II
Damages
Remedy: Nominal Damages
Availability
There is no financial loss.
Result
Wrongdoing is established without actual damages being suffered. The plaintiff is awarded a nominal amount (such as $1) in damages.

11. BUSINESS LAW II
Damages

12. Remedy: Liquidated Damages
BUSINESS LAW II
Damages
Remedy: Liquidated Damages
Availability
A contract provides a specific amount to be paid as damages in the event that the contract is later breached.
Result
The non-breaching party is paid the amount stipulated in the contract for the breach, unless the amount is construed as a penalty.

14. End of
Damages