Florida State College at Jacksonville
Business Law and Ethics
February 22, 2013
Compensatory damages are intended to provide a plaintiff with the monetary amount necessary to replace what was lost and nothing more. To be awarded compensatory damages, Pat the plaintiff must prove that he has suffered a legally recognizable harm that is compensable by a certain amount of money that can be objectively determined. Following a breach of contract by the defendant Harry Homeowner, the most common approach taken is to award the sum which would restore the plaintiff Pat to the economic position that he expected from performance of the promise (known as an "expectation measure".)
Critical Legal Thinking Case Assignment Three
Analysis of the principles of law and key facts determine that Pat Painter can recover Expectation damages do to Harry Homeowner’s breach of contract. These damages are applied when compensating a victim of a breached contract. Theses damages are awarded in order to place the harmed party in the position he would have been in had the breach not occurred. Areas and Principles of Law
The areas of law applicable to the factual scenario falls under remedies, if a party breaches a contract, the other is entitled to monetary damages. The purpose of damages is to put the plaintiff in the position it would have been in had the contract been performed. The courts have a method they have developed to determine the appropriate monetary damages in contract cases. The principle of law that is most appropriate for the factual scenario is referred to as expectation damages. Expectation damages give the plaintiff the benefit of its bargain, putting the plaintiff in the cash position they would have been in as if the contract had been complete. The general formula for expectation damages is Expectation Damages = Compensatory Damages + Consequential Damages +...