Business Law

Satisfactory Essays
Jonah Watson
Business Law
Case Analysis #3

IN YOUR COURT A remedy is the relief provided for an innocent party when the other party has breached the contract. There are two types of remedies; remedies in equity and remedies at law. Remedies in equity are only awarded only if the remedy at law is inadequate. Remedies at law normally award monetary damages Ken, the owner of a famous candy store, and Sweet, Inc. have entered into a contract, essentially designating Sweet, Inc. as his main supplier of sugar. The contract has designated a specific time in which the sugar should be delivered. The first breach of the contract was made by Sweet, Inc., whom due to unforeseeable circumstances was unable to deliver Ken his sugar on the agreed upon delivery date. This breach of contract by Sweet, Inc., has entitled Ken to sue for monetary damages. Damages compensating the non-breaching party for the loss of the bargain are known as compensatory damages. Compensatory damages compensate the injured party only for damages actually sustained and proved to have arisen directly from the loss of the bargain caused by the breach of the contract. Although Ken argued that Sweet, Inc. breached their contract when Sweet, Inc. failed to deliver on time, Ken could have still accepted the order and might have been able to mitigate some of the damages he sustained. In most situations, when a breach of contract occurs, the innocent injured party is held to a duty to mitigate, or reduce, the damages they suffer. As for the punitive damages being sought by Ken, none can be proven definitively. Punitive damages are only considered in tort affairs. A contract is a civil relationship between parties, so punitive damages have no place in these types of contracts. Also, breaching a contract is not a crime nor does it necessarily harm society. One cannot gauge the effects of how present damages will effect future profits, so the stories of customers promising

You May Also Find These Documents Helpful

  • Powerful Essays

    Business Law

    • 4785 Words
    • 20 Pages

    Curtin Business School School of Business Law and Taxation Unit Outline 11011 Business Law 100 Semester 1, 2013 Unit study package number: Mode of study: Tuition pattern summary: Credit Value: Pre-requisite units: Co-requisite units: Anti-requisite units: Result type: Approved incidental fees: Unit coordinator: 11011 Internal Seminar: 1 x 3 Hours Weekly This unit does not have a fieldwork component. 25.0 Nil Nil Nil Grade/Mark Information about approved incidental fees can be obtained from our…

    • 4785 Words
    • 20 Pages
    Powerful Essays
  • Satisfactory Essays

    Business Law

    • 421 Words
    • 2 Pages

    Addressing International Legal and Ethical Issues Contemporary Business Law/LAW 421 Monday, 18 February 2013 The issues involved in resolving legal disputes in international Transactions are the changes that are mad to international laws and regulations. The largest focus is the minimum wages. What is most discussed is China has a cheap labor force compared to America. This increases the profits for the company who outsources to cheaper labor cost. If the China manufacturing do not meet…

    • 421 Words
    • 2 Pages
    Satisfactory Essays
  • Good Essays

    Business Law

    • 3800 Words
    • 16 Pages

    genuine requirement for a job, such as, for example, the need to wear a hard hat when working on a construction site. Bona fide occupational requirement is a defence that excuses discrimination o a prohibited ground when it is done for a legitimate business reason. Bona Fide occupational requirement can be rejected if a male does not have the care, attractiveness and delegacy a women would have. Physical capabilities have also been rejected example a women not getting hired because she cannot lift…

    • 3800 Words
    • 16 Pages
    Good Essays
  • Satisfactory Essays

    Business law

    • 2477 Words
    • 13 Pages

    Vietnam National University – HCMC International University SCHOOL OF BUSINESS ADMINISTRATION COURSE SYLLABUS1 BA167IU Introduction to Vietnamese Legal System Note: The outline with specific venue and time, and updated learning materials for the current semester will be provided to the enrolled students by the lecturer 1. COURSE STAFF Lecturer: LLM Ta Diu Thuong Room: L108 Telephone: 0822114034 E-mail: tdthuong@hcmiu.edu.vn Consultation…

    • 2477 Words
    • 13 Pages
    Satisfactory Essays
  • Good Essays

    Business Law

    • 1150 Words
    • 5 Pages

    regulation in Saudi that has specific implication when settling disputes. It is forbidden in Islamic law by Qur’an when the operation concerned is risky and could result in deceit of one of the parties (http://www.investopedia.com/terms/g/gharar.asp). In this case, the U.S could claim that the reparation cost of breaching the contract could be classified as Gharar as it is specific to Islamic law: Saudi being an Islamic country with applicable jurisdiction, the US could claim gharar as the cost of…

    • 1150 Words
    • 5 Pages
    Good Essays
  • Better Essays

    Business Law

    • 2364 Words
    • 10 Pages

    went to court to sue the bank for a breach of contract. The breach was as a result of the good faith covenant and fair dealing. Additionally, she felt that the mortgage transaction was an example of unfair practice of violations in business under the unfair competition law of the state of California concerning unjust conversion and enrichment. On the basis of the second amended complaint, the bank had maintained the activity of procuring costly replacement insurance when mortgagors made a default on…

    • 2364 Words
    • 10 Pages
    Better Essays
  • Satisfactory Essays

    Business Law

    • 631 Words
    • 3 Pages

    BUSINESS LAW ASSIGNMENT MANAGEMENT DEVELOPMENT INSTITUTE OF SINGAPORE UNIVERSITY OF BRADFORD DIPLOMA IN BUSINESS MANAGEMENT Comment [DT1]: Example: DBMD1070E COURSE CODE BUSINESS LAW ASSIGNMENT GROUP MEMBERS NO 1. 2. 3. Name Full Name Full Name FIN NO: FIN No: 12345678P PM Comment [DT2]: Write down date assignment was handed in DATE: _______________________ ANALYSIS RESEARCH ORGANIZATION PRESENTATION /40 /30 /15 /15 Comment [DT3]: Make sure it is…

    • 631 Words
    • 3 Pages
    Satisfactory Essays
  • Good Essays

    business law

    • 942 Words
    • 3 Pages

    the same consequences has taken place, where by a prominent member of the political party (Jonathan) threatened to persuade all Richard’s existing customers to award function tenders to Jonathan’s brother. This was a business threat to Richard, and due to fear of losing his business and model, Richard could have entered the agreement but not with his consent. Besides that, this case is also said to be induced by ‘undue influence’ (according to section 16 (1), where the relations…

    • 942 Words
    • 3 Pages
    Good Essays
  • Powerful Essays

    Business Law

    • 31434 Words
    • 126 Pages

    ALGAPPA UNIVERSITY KARAIKUDI – 630 003 TAMILNADU DIRECTORATE OF DISTANCE EDUCATION B B A (II YEAR) PAPER 2.4 BUSINESS LAW Paper 2.2 Commercial Law : Business Law Indian Contract Act 1872 : Meaning and essentials of a valid contract Formation of contract – Performance of contract – Termination and discharge of contract – Remedies for breach of contract – Quast contract Special Contracts : Indemnity of guarantee – Bailment – Agency Sale of Goods Act…

    • 31434 Words
    • 126 Pages
    Powerful Essays
  • Good Essays

    Business Law

    • 988 Words
    • 4 Pages

    There are many laws in the world today that some may find are neither rational nor fair for all the parties involved in the situation. I have chosen two laws that I do not think are logical, these two are apparent authority and executory process. The first law I will be discussing is an agency this is the right one person has to execute business on behalf of another person or corporation. There are three important parties involved in an agency relationship; the agent (this is who can enter a contract…

    • 988 Words
    • 4 Pages
    Good Essays