Contract Law: Remedies for contract Flashcards
What are legal remedies?
- Available against a person in breach of a contract- damages of remedies against goods.
What are equitable remedies?
- Discretionary remedies awarded if legal remedies are not appropriate put the situation.
What are compensatory damages?
damages to put the claimant into the position they were in before agreeing to the contract.
- losses are recoverable if they were caused by a breach of contract- to establish this. apply:
- But for test- the claimant would not have suffered the loss but for…
- Remoteness of damage establishes which losses can e subject of compensation as shown in Hadley v Batendale 1854.
1) objectively, is the loss a natural consequence of the breach
2) subjectively, both parties have specific knowledge of potential losses.
What are nominal damages ?
Damages awarded for a breach in contract even if there was no loss Staniforth v Lyall 1830.
What are the 3 ways to assess awards of damages in contributed claims?
- Loss of bargain- to place claimant into the same financial position as if the contract has been performed properly.
- Loss of profit- claimant may recover for the profit that they would have been able to complete but for the breach of contract.
- Loss of chance- speculative loss Chaplin v Hicks 1911.
What is reliance loss?
- The expense incurred by a claimant who relied on a contract being formed as shown in Anglia Television LTD V Reed 1972- restitution (repayment of any money).
What is a lien?
The right to retain possession of the goods of the debt until paid.
What are liquidated damages?
Where the amount of damages has been fixed by term in the contract and the sum identified in the contract represent and accurate assessment of loss, s shown in Dunlop Pneumatic Tyre Co v New orange and Motor Co.
What is Quantum Meruit?
Recovery of an unqualified sum for services already rendered as shown Upton Rural District Council v Powell 1942.
What re the three circumstances where Quantum Meruit is made?
- In a contract where no pric is stated as shown in Upton Rural District Council v Powell 1942
- Where the circumstances show a fresh agreement can be implied in the place of the original one as shown in Steven v Bromley 1919.
- Where the party has been elected to consider the contract discharged by the others breach, or where a party has been prevented from performing by the other party as shown in De Barnady V Harding 1853.
What is an injunction?
Type of equitable remedy which requires a party in the contract to do something.
