Chapter 14. Assignment, Delegation, and Breach of Contract

I. Remedies to breach of contract

1. money damages

2. accept the breach

actual damages- an amount of money awarded for damages directly attributable to another party’s breach of contract or tort: for example, physicians fees when one party wrongly injures another, and financial losses resulting form failure to deliver goods already contracted for.

compensatory damages- an award of an amount of money that compensates  a complaint the injuries suffered and nothing more.

consequential damages- damage, loss, or injury that does not flow directly and immediately from the act of the party.

incidental damages- reasonable expenses that indirectly result from a breach of contract

liquidated damages- an act of damages, agreed to by both parties and contained in a contract.

nominal damages- damages awarded by a court when a successful plaintiff has proven a legal injury but no actual resulting damages.

punitive damages- damages in excess of losses suffered by the plaintiff awarded to the plaintiff as a measure of punishment for the defendant’s wrongful acts.

speculative damages- are damages claimed by a plaintiff for losses that may occur in the future, but are highly improbable.

III. Minimizing Damages

Mitigation of damages. You Mitigation before you ligate.

Aim: Assignment and Delegation

Rights: the transfer of one’s rights is assignment

assigned-party that assigned

assigner-party that receives assignor’s rights

1. no new consideration is needed to transfer rights.

2. should be in writing to prove the assignment.

B. What rights can be transferred.

1.Most rights can be transferred unless they drastically change the obligation to a contract. Personal services are most likely.

2. payments are the most common types of assignments

C. Delegation- transfer of duties/responsibilities on a contract to a third party (subcontracting).

house built-“gc”

original party is responsible for the duties of the contract regardless of how many subcontractors he/she hires.

3. Personal services, talents, unique skills can not be delegated in a contract.

1. Breach of Contract

2. assignment- “rights”

3. delegation- “duties”

4. novation- complete transfer

5. “third parties”- privily of contract

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

w

Connecting to %s