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Breach of contract --- Breach of contract

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Breach of contract

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Breach of contract

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"To aid understanding and practicality of use, the book is arranged by the type of complaint, such as the mis-provision of services, the non-payment of money, or the temporary loss of use of property. It also includes sections on causation, remoteness, and other general principles. Cases from all relevant contractual fields are gathered together here, including those considered in general works (construction, sale of goods, charter parties, professional services) and those less frequently covered (SPAs, insurance, and landlord and tenant). Tort decisions are referenced where relevant, including full coverage of professional negligence damages, and detailed explanations of many practically important but often neglected areas, such as damages for lost management time and the proof of lost profits, are given."--

Breach of contract --- Damages

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This paper examines the sharing of risk under three different remedies for breach of contract. The risk considered arises from the possibility that, after a seller and buyer have entered into an agreement for the exchange of some (not generally available) good, a third party who values the good more than the original buyer may come along before delivery has occurred; the seller will want to breach. It is shown that this risk is optimally allocated by the expectation damage remedy if the seller is risk neutral and the buyer is risk averse, by the specific performance remedy if the opposite is true, and by a liquidated damage remedy if both parties are risk averse. The level of damages under the liquidated damage remedy is also shown to be bounded by the expectation measure of damages and a "damage equivalent" to the specific performance remedy. By means of a numerical example, it is shown that use of the prevailing remedy for breach of contract -- the expectation damage remedy -- may plausibly cause a welfare loss of as much as 20% due to inappropriate risk sharing.

Breach of contract.