Unit 6 - Remedies

Word

Definition

Example

breach of contract

Violation of the terms or obligations specified in a contract

The breach of contract occurred when the supplier failed to deliver the agreed-upon goods on time

non-breaching party

The party in a contract who has not violated its terms and is seeking remedies for the breach

The non-breaching party has the right to seek remedies for the breach of contract

remedy

A legal solution or action available to address a breach or wrongdoing

One possible remedy for the contract breach is to seek damages for the financial losses incurred

non-monetary relief

Remedies that do not involve monetary compensation, such as injunctions or specific performance

In some cases, non-monetary relief such as an injunction may be sought to prevent further harm

pecuniary compensation

Monetary compensation or damages awarded to compensate for losses or harm suffered

The injured party sought pecuniary compensation for the financial losses caused by the breach

injured party

The party that has been harmed or suffered damages as a result of a breach or wrongful act

The injured party filed a lawsuit against the manufacturer for selling a defective product

expectation damages

Damages awarded to the injured party to cover what they expected to gain from the contract

Expectation damages aim to put the non-breaching party in the position they would have been in if the contract had been fulfilled

benefit of the bargain damages

Damages awarded to the injured party to place them in the position they would have been in if the contract had been performed as agreed

Benefit of the bargain damages reflect the difference between the expected value and the actual value of the contract

foreseeability

The reasonable anticipation that certain consequences may result from one's actions

The foreseeability of the harm resulting from the breach is a key factor in determining damages

general damages

Compensatory damages that are not tied to a specific monetary loss and are awarded for general harm or inconvenience

General damages compensate for losses that can be reasonably expected as a result of the breach

foreseeability rule

The principle that damages can only be awarded for losses that were foreseeable at the time the contract was formed

The foreseeability rule states that damages must have been foreseeable at the time the contract was formed

special damages

Damages that compensate for specific, quantifiable financial losses incurred due to the breach

Special damages are specific and quantifiable losses suffered due to the breach, such as medical expenses

consequential damages

Damages that arise as a consequence of the breach but are not a direct result of the breach itself

Consequential damages are indirect losses that result from the breach, such as lost profits or business interruption

reliance damages

Damages awarded to the injured party to cover expenses incurred due to their reliance on the contract

Reliance damages compensate the non-breaching party for expenses incurred in preparation for the contract

reasonable reliance

The reliance on a promise or representation in a contract that is considered reasonable and justifiable

The court considered whether the non-breaching party's reliance on the contract was reasonable in this case

restitution damages

Damages awarded to restore to the injured party any benefit they conferred to the breaching party

Restitution damages aim to restore the non-breaching party to the financial position they were in before the contract

liquidated damages

Pre-determined damages specified in the contract in case of a breach, based on an estimate of potential losses

The contract included a clause specifying liquidated damages in case of a breach, making the amount predictable

stipulated damages

Another term for liquidated damages, referring to the agreed-upon amount in the contract

Stipulated damages in the contract are set at $10,000 for each day of delay in project completion

punitive (exemplary) damage

Damages awarded as punishment for malicious or intentional misconduct, rather than to compensate for losses

Punitive damages may be awarded in cases where the defendant's conduct was particularly egregious or willful

tort

A wrongful act or negligence that causes harm to someone and may lead to a civil lawsuit

In addition to breach of contract, the plaintiff also alleged that the defendant committed a tort against them

specific performance

A legal remedy where a court orders a party to perform a specific act or fulfill a contractual obligation

The court ordered specific performance, requiring the seller to transfer the property to the buyer as agreed

default

Failure to fulfill one's contractual or legal obligations

The default occurred when the debtor failed to make the scheduled loan payments

uphold the decision

To confirm or support a previous legal decision or ruling

The appellate court decided to uphold the decision of the lower court, finding no errors in the judgment

dismiss the suit

To reject or terminate a legal case or lawsuit

The judge chose to dismiss the suit due to lack of sufficient evidence to support the claims

hold that

To declare or decide a specific legal interpretation or judgment

The court held that the defendant was liable for the injuries caused by their negligence

to be reluctant to

To hesitate or be unwilling to do something due to reservations or concerns

The defendant may be reluctant to settle the case out of court if they believe they have a strong defense

be hesitant to

To have doubts or uncertainty about doing something

The plaintiff was hesitant to proceed with the lawsuit without further legal counsel

overturn

To reverse or invalidate a previous legal decision or judgment

The appellate court decided to overturn the lower court's verdict and order a new trial

be unwilling to

To refuse or be resistant to doing something

The party was unwilling to sign the settlement agreement without additional terms being included

in the form of

Presented or occurring in a specific manner or format

The compensation will be provided in the form of monthly payments over the next five years

specified in writing

Clearly defined or detailed in a written document

The contract clearly specified in writing that any changes must be approved by both parties in advance

jointly

Together or in cooperation with others

The partners jointly owned the business and shared both its profits and responsibilities

be owed to

To be owed or entitled to receive something

The outstanding debt is owed to several creditors who are waiting to be repaid

as stated above

As mentioned or indicated earlier in the document or discussion

As stated above, the terms and conditions outlined in the contract remain in effect until further notice

subtracted from

Deducted or taken away from a total amount

The damages awarded to the plaintiff will be subtracted from the defendant's total assets

mitigate

To take action to lessen or minimize the severity or impact of something, such as damages

The injured party has a legal duty to mitigate their losses by taking reasonable steps to reduce the harm

instant case

The specific legal case or matter currently under consideration

The court's decision in the instant case set an important precedent for similar legal disputes

contractual obligations

The duties and responsibilities that parties have agreed to in a contract

Both parties are obligated to fulfill their contractual obligations outlined in the agreement

categorical refusal

A clear and unequivocal rejection or denial of something

The defendant's categorical refusal to cooperate in the investigation raised suspicions of wrongdoing

futile preparations

Efforts or actions that prove to be pointless or unproductive

The plaintiff argued that the defendant's actions led to futile preparations for the planned business merger

lucrative prospects

Opportunities or endeavors that offer the potential for significant financial gain

The partnership opened new markets and brought lucrative prospects for business growth

solid grounds

Valid and substantial reasons or justifications for a particular position or action

The legal team presented solid grounds for their case, making it difficult for the opposing party to contest