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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