Contracts are made; contracts are broken. When this latter occurs, litigation commences and a claim for damages is made. The consequences of a breach are many and varied. A buyer finds it does not have the goods promised, and has a sub-contract to fulfil. The goods might be defective and cause loss or damage to person or property. Costs are incurred because of the breach, and expenditure made in advance of performance seems wasted. The breach might cause the innocent party to suffer a heavy loss of profit and face legal action itself.
This is only a small sample of the category of loss that can follow a breach. This course is designed not just for all involved in the drafting of contracts, whether with businesses or consumers, but for all those who have to litigate or face such claims.
Topics covered include:
An overview of the principles for recovery of loss
The standard measure – recovery for loss of bargain
Recovery for loss of profits and trading income
What counts as special circumstances which must have been notified to the contract breaker?
Recovery of pre-contract expenses and expenses incurred in seeking due performance
Aggravated and exemplary damages
Validity of clauses excluding or limiting liability for damages
And you will also learn something you never knew about the famous case of Hadley v Baxendale!