What is the Market Value Measure of Damages in Nevada?

Generally, the market value measure of damages “allows the … victim to recover the market value of the very performance he should have had, less the contract price.”[1]  “[T]he measure of damage is the difference between the contract price and the market price of the goods at the time and place when the contract should have been performed.”[2]  Nevada has applied the market value measure to contracts involving the sale of real estate and the sale of goods.[3]

[1] Id.

[2] Turner Lumber Co. v. Tonopah Lumber Co., 38 Nev. 338, 339, 153 P. 254, 255 (1915).

[3] See generally Turner Lumber Co., 38 Nev. 338; J.J. Indus., LLC v. Bennett, 119 Nev. 269, 71 P.3d 1264 (2003); Regent Int’l v. Lear, 103 Nev. 33, 732 P.2d 861 (1987); Harris v. Shell Dev. Corp., 95 Nev. 348, 594 P.2d 731 (1979).

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Jay Young, Mediator and Arbitrator

Jay Young is a Las Vegas, Nevada attorney. His practice focuses on acting as an Arbitrator and Mediator. Mr. Young can be reached at 702.667.4828 or at jay@h2law.com. The information provided on this site does not, and is not intended to constitute legal advice. You understand each legal matter should be considered to be unique and subject to varying results. You should not take or refrain from taking action based on any information contained on this website without first consulting legal counsel, as it is not intended to advise you on your particular matter. Further, you understand that no guarantee is given that the information contained herein is an accurate statement of the law at any given point in time, as the law is constantly changing. Guest bloggers are responsible for their own content, which is not to be construed as an article authored by Jay Young. Please see http://nevadalaw.info/disclaimer

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