Remedy of contract law

studied byStudied by 0 people
0.0(0)
learn
LearnA personalized and smart learning plan
exam
Practice TestTake a test on your terms and definitions
spaced repetition
Spaced RepetitionScientifically backed study method
heart puzzle
Matching GameHow quick can you match all your cards?
flashcards
FlashcardsStudy terms and definitions

1 / 15

encourage image

There's no tags or description

Looks like no one added any tags here yet for you.

16 Terms

1

Legal remedies:

damages or remedies against goods.

New cards
2

Equitable remedies

discretionary court orders.

New cards
3

Statutory remedies:

provided under Acts- CRA 2015 & Law Reform (frustrated contracts) Act of 1943

New cards
4

Compensatory Damages

A claim for damages is always available if a contractual term is broken.

So even if the claimant hasn’t suffered a loss, still the court has to make an award of damages.

Purpose: To restore the claimant to their pre-breach position.

New cards
5

Expectation loss

loss of a bargain

New cards
6

Reliance loss

wasted expenditure

New cards
7

1. Nominal damages:

When no actual loss is suffered.

New cards
8

Staniforth v. Lyall

Lyall had a duty to load Staniforth’s boat by a certain date but failed to do so. However, Staniforth did not suffer any actual financial loss because he was able to hire the boat to someone else. Despite this, the court awarded nominal damages to acknowledge that a breach of contract had occurred.

New cards
9

“Wrotham Park Award”

Type of damages awarded when a party breaches a contractual obligation, but the innocent party does not suffer a direct financial loss.

Instead of compensating for actual loss, the court awards a sum that represents the amount the innocent party might have reasonably charged for allowing the breach to occur.

New cards
10

Wrotham Park Estate Co. Ltd v Parkside Homes Ltd (1974)

A developer built houses in violation of a restrictive covenant. Instead of ordering demolition, the court awarded damages based on what the landowner could have negotiated in exchange for releasing the restriction.

New cards
11

2. Speculative damages

Awarded when nominal damages are inappropriate

Chaplin v. Hicks

New cards
12

Chaplin v. Hicks

The claimant, Chaplin, entered a beauty contest where the winners would receive auditions for acting roles. She was selected as one of the finalists but was not given the opportunity to attend the audition due to the defendant’s breach. The court ruled that she was entitled to damages for the lost chance of being selected for an acting role.

New cards
13

Hadley v Baxendale

A mill owner sued a carrier for late delivery of a crankshaft, which caused business losses. Established 2 part test for remoteness:

1. Loss must be a natural consequence of the breach.- objective

2. it must be in the contemplation of both parties at contract formation.- subjective

New cards
14

Mitigation of loss means:

The injured party should take reasonable steps to minimize the effects of the breach.

New cards
15

Liquidated damages

Where the amount of damages has been fixed by the terms of a contract.

Courts will only accept this if it is accurate and has a proper assessment of the loss.

New cards
16

Equitable remedies

When damages are inadequate remedy and justice won’t be served with it.

They are not a right, but at the discretion of the court.

So providing a remedy that is appropriate and just

New cards

Explore top notes

note Note
studied byStudied by 18 people
899 days ago
5.0(1)
note Note
studied byStudied by 32 people
794 days ago
5.0(1)
note Note
studied byStudied by 1 person
28 days ago
5.0(1)
note Note
studied byStudied by 103 people
856 days ago
5.0(1)
note Note
studied byStudied by 3 people
761 days ago
5.0(1)
note Note
studied byStudied by 10 people
693 days ago
4.5(2)
note Note
studied byStudied by 39 people
953 days ago
5.0(1)
note Note
studied byStudied by 11 people
776 days ago
5.0(1)

Explore top flashcards

flashcards Flashcard (33)
studied byStudied by 3 people
792 days ago
5.0(1)
flashcards Flashcard (62)
studied byStudied by 5 people
765 days ago
5.0(1)
flashcards Flashcard (82)
studied byStudied by 10 people
56 days ago
5.0(1)
flashcards Flashcard (40)
studied byStudied by 5 people
171 days ago
5.0(1)
flashcards Flashcard (20)
studied byStudied by 115 people
507 days ago
5.0(1)
flashcards Flashcard (25)
studied byStudied by 12 people
468 days ago
5.0(1)
flashcards Flashcard (25)
studied byStudied by 2 people
661 days ago
5.0(1)
flashcards Flashcard (38)
studied byStudied by 38 people
8 days ago
5.0(1)
robot