Sales Contract

4/30/2015

1

Remedies

Objectives

• Legal/monetary damages

• Equitable remedies

• Duty to mitigate

4/30/2015

2

Legal/Monetary Damages

• Expectation damages

• Reliance damages

• Restitution

• Consequential damages

Equitable Remedies

• Specific performance

• Injunctions

• Recission

• Promissory estoppel

• Quantum meruit

4/30/2015

3

Duty to Mitigate

Image from: http://www.americanbar.org/publications/blt/2011/09/keeping_current_zhao.html

Summary

• Breach of contract leads to remedies

• Monetary vs. equitable remedies