Damages for Breach of Contract - Essay Example

Summary

From the paper "Damages for Breach of Contract" it is clear that the seaworthiness of the vessel when goods are sent through a ship is an implied warranty. In Hong Kong Fir Shipping, the category of an innominate term was established. In some contracts, parties should clearly identify conditions. …

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Subject: Law
Type: Essay
Level: Undergraduate
Pages: 1 (250 words)
Downloads: 4
Author: joy20

Extract of sample "Damages for Breach of Contract"

Compensatory damages are one which the court award as compensation for the loss witnessed by a claimant. In the case where there is an infringement of contract but with no financial loss is witnessed, and if the injury is nominal, and in such cases, a court can award nominal damages. In some cases, a court can award damages for the loss of profits by a party, and this is available only in cases where compensatory damages are not sufficient. The court can also award non-monetary damages in some cases where there the party to the contract has claimed that he suffered disappointment, anxiety, distress, and inconvenience due to non-fulfillment of contractual obligation. In some cases, the court can award liquidated damages where contract conditions stipulate the same. In some other cases, a court can award restitutionary damages or expectation loss for infringement of a contract condition. Restitutionary damages of a substantial amount can be awarded to a claimant by a court, even though the claimant has not suffered any damages at all (Stone & Devenney 2014:225).

Contracts also include implied terms, which are not written already in the contract. The main aim of implied terms is to complement a contractual agreement for making the business more efficient and to accomplish fairness. Read More

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Critically explain how the courts assess how damages are awarded for Essay. Retrieved from https://studentshare.org/law/1692154-critically-explain-how-the-courts-assess-how-damages-are-awarded-for-breach-of-contract-and-discuss-how-terms-are-implied-into-contracts-and-how-they-may-be-classified-as-either-conditionswarranties-or-innominate-terms

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