BCOR 320 1nd Edition Lecture 24 Chapter 11: Conclusion to contracts cont Compensatory damages: Compensatory damages are the most common monetary awards. They generally flow directly from the contract, such as an order to pay what was promised or to pay for expenses caused by the breach.The injured party must prove the breach caused damages that can be quantified with reasonable certainty.Consequence damages: Consequential damages are those resulting from the unique circumstances of this injured party. Because damage calculation can be complex, there are companies that specialize in doing the work on behalf of litigants or other interested parties.Incidental damages: Incidental damages are the relatively minor costs incurred when the injured party responds to the breach (obtaining cover), such as the extra cost of buying replacement goods.Equitable interest: Specific Performance• A court will order the parties to perform the contract only in cases involving thesale of land or some other asset that is unique. Injunction• An injunction is a court order that requires someone to do something or refrainfrom doing something. ReformationThese notes represent a detailed interpretation of the professor’s lecture. GradeBuddy is best used as a supplement to your own notes, not as a substitute.Reformation is a process in which a court will partially “re-write” a contractSpecial issues of damages: Mitigation of Damages• A party may not recover for damages that could be avoided with reasonable
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