Jay Young | Retired Las Vegas, Nevada Judge | Mediator | Arbitrator | Special Master
Generally, the cost expectancy measure of damages allows an injured party to recover damages equal to the cost of obtaining reasonable substitute performance. The cost expectancy measure will usually be permitted only if it yields an amount less than the market value measure.[1] There are essentially two general situations where the cost expectancy measure is…
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Liquidated damages enforces a remedy to which the parties agreed in the contract, provided that the agreed remedy is not unduly harsh to the defendant and does not fail to provide the plaintiff a meaningful remedy.[1] The terms of a valid liquidated damages clause supersede any default award of expectation/compensatory damages. “Liquidated damages have been…
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Expectation damages award the plaintiff the difference between the value of the benefit reasonably expected as a result of the defendant’s agreed performance and the value she actually received (a.k.a., benefit of the bargain damages). The plaintiff is basically put into the position he or she would have been in had the defendant fully performed. …
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Restitutionary Damages The general goal of contract damages is to provide compensation for the injured party based on the injured party’s expectation interest.[1] More specifically, it gives the injured party the “benefit of his bargain by awarding him a sum of money that will, to the extent possible, put him in as good a position…
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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…
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I’m happy to announce that my book, “Federal Court Civil Litigation Checklist”, made it to BookAuthority’s Best Litigation eBooks of All Time: BookAuthority collects and ranks the best books in the world, and it is a great honor to get this kind of recognition. Thank you for all your support! The book is available for…
Unlike general damages, special or consequential damages are not based on the value of the promised performance, but on the “benefits [the performance] can produce or the losses that may be caused by [the performance’s] absence.”[1] Special damages are those that do not flow from breach of the contract.[2] [1] See Dobbs, § 12.2(3) at…
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General damages have been described as the “present value of the thing promised,” or the “value of the very performance contracted for.”[1] Nevada has formulated a very broad definition of general damages, including damages which ordinarily flow from a breach. In Bradley,[2] the Court held that even a small loss of profit is considered a…
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As with many questions in the law, the answer to this inquiry is “it depends.” “The essential elements of a valid contract include offer, acceptance, and bargained for consideration.”[1] The creation of a contract requires that two parties mutually assent to the same bargain at the same time-an assent which is usually in the form…
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Rescission returns both parties to their pre-contractual situation.[1] Rescission is a remedy which allows the “harmed” party, either through unilateral action, or through the institution of a suit in equity, to abrogate or cancel the contract totally, and returns the parties to the position they held prior to the execution of the contract.[2] “A priori,…
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