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CONTRACTS Chapter 6. Remedies

CONTRACTS Chapter 6. Remedies. Remedies. A contracts to sell Blackacre to B for $100K B pays A a $1K deposit B spends $4K preparing for move Before transfer, market value of Blackacre rises to $150K A refuses to transfer title to B. Hawkins v. McGee - Redux.

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CONTRACTS Chapter 6. Remedies

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  1. CONTRACTSChapter 6. Remedies Expectation Damages

  2. Remedies • A contracts to sell Blackacre to B for $100K • B pays A a $1K deposit • B spends $4K preparing for move • Before transfer, market value of Blackacre rises to $150K • A refuses to transfer title to B Punitive Damages

  3. Hawkins v. McGee - Redux • How does the trial court measure damages? • How does the New Hampshire Supreme Court measure damages? • What else might the court have done? Punitive Damages

  4. What damages should the doctor pay? • Mr. Hart’s answer: Difference between burned hand and hairy hand • New Hampshire Supreme Court’s answer: Difference between 100% perfect (or good) hand and hairy hand • A third option: Doctor’s fee Reliance Damages (349) Expectation Damages (347) Restitution Damages (373) Remedies

  5. Expectation Damages • GOAL: To put non-breaching party in as good a position as if breaching party had fully performed. • CALCULATING: How do we compute damages to achieve this goal? • Direct damages=Loss in value of subject matter of K due to breach (loss in value of performance) • Consequential damages=Losses resulting from breach which are reasonably foreseeable & unavoidable • incidental: costs of securing a substitute performance Remedies

  6. J.O. Hooker & Sons, Inc. v. Roberts Cabinet Co. • How are expectation damages awarded if there is an available substitute transaction? • How are expectation damages awarded if there is no available substitute transaction? • What if the contract is partially performed? • What costs are considered? Expectation Damages

  7. Groves v. John Wunder Co. Diminution in Value v. Cost of Performance • What is the breach? • What is the cost of performance? What is the diminution in value? • What does the court find to be the proper measure of Groves’s loss? Why? • What does the trial court argue? • What if the breach was willful? Expectation Damages

  8. Peevyhouse v. Garland Coal & Mining Co. • What is the breach at issue? • What is the cost of performance? What is the diminution in value? • What does the court find to be the proper measure of loss to the Peevyhouses? Why? • What is the dissent’s argument? • What about economic waste? Expectation Damages

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