Here is the synopsis of our sample research paper on Remedies for Breach of Contract. Have the paper e-mailed to you 24/7/365.
Essay / Research Paper Abstract
A 3 page paper identifying and defining remedies for breach of contract. There are several means of gaining remedy in the case of breach of contract. Most are legal means gained through the courts, but mediation and arbitration also are appropriate alternatives. Among the court-based approaches, the wronged party may be awarded damages in the form of expectation, reliance or restitution damages. Bibliography lists 2 sources.
Page Count:
3 pages (~225 words per page)
File: CC6_KSlawContBrch.rtf
Buy This Term Paper »
Unformatted sample text from the term paper:
are several means of gaining remedy in the case of breach of contract. Most are legal means gained through the courts, but mediation and arbitration also are appropriate alternatives.
Among the court-based approaches, the wronged party may be awarded damages in the form of expectation, reliance or restitution damages. Expectation Damages
An award for breach of contract seeks to "put the injured party in the same position he would have been in had the contract been performed" (Damages and Other Remedies,
n.d.). The basic formula used to determine what that position could have been is: General Formula for expectation damages = Lost Value (LV) + Incidental Loss (I) + Consequential
Loss (C) - Cost Avoided (CA) - Loss Avoided (LA) Source: (Damages and Other Remedies, n.d.) The consequential portion of a potential
award is available only when the "breaching party knew or should have know about the circumstances" (Damages and Other Remedies, n.d.). Reliance Remedies
In this perspective, one of the parties to the contract acted "in reliance on the promise" (Damages and Other Remedies, n.d.) of the contract, and the court orders the other
party - the one breaching the contract - to compensate the breachee based on what s/he did on reliance on the promise. Reliance damages is defined as the economic value
of a partys reliance interest is typically the dollar amount of whatever out of pocket costs (including labor) were incurred by the non-breaching party up to the time of the
breach in reliance on the breaching partys performance (Damages and Other Remedies, n.d.). This remedy is available to the breachee even if the
...