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LWC
Chapter 18
Term | Definition |
---|---|
remedy | method a court uses to compensate an injured party |
breach of contract | he fails to perform a duty without a valid excuse |
injunction | an order forcing someone to do something, or refrain from doing something, is an injunction |
specific performance | forcing both parties to complete the deal |
liquidated damage clause | a provision in the contract that declares in advance what one party will receive if the other side breaches |
interest | a legal right on something |
4 principal contract interests | expectation interest reliance interest restitution interest equitable interest |
expectation damages | compensatory " direct damages" consequential "special damage" incidental damages |
legal remedies | money damages |
equitable powers - 3 | specific performance injunction reformation |
injunction | court order that requires someone to do something or refrain from doing something |
preliminary injunction | an order issued early in a lawsuit prohibitively a party from doing something during the course of the lawsuit |
reformation | a process in which a court will partially "re-write" a contract |
mitigate | keep damages as low as he reasonably can |