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, _____ _____: Means of protecting a party who is reliant on someone's actions. Promissory Estoppel
What are 2 common examples of Promissory Estoppel? 1. Subcontractor bids
2. Teaming relationships
What case is this?
- Party sues for lost profits ($3-4 million)
- 5th Circuit found material facts in dispute that allowed party to maintain a promissory estoppel theory.
Metroplexcore V. Parsons Transportation Group (2014)
_____ Damages: Award what was reasonably expected from the contract. Expectation
_____ _____: When expectation damages not available, award what party would have had if contract
had not existed.Rescission Damages
_____ ______ & _____ _____: If contract's subject is unique, a court may order that the breaching party
perform its obligations under that contract (specific performance) or stop doing something (injunction).
Specific Performance & Injunctive Relief
_____ _____: Award of a reasonable sum of money (i.e., "what the claimant deserved") Quantum
Meruit
Damages cannot be speculative, and must be proven to a _____ degree of certainty. reasonable
The contract may NOT impose limitations on what can be claimed.
True or False? False
- Liquidated damages.
- Limitations of liability.
- Improper default terminations.
- No damages for delay.
- Waivers of consequential damages.
These are all examples of Contractual _____. Limitations
______ Damages: Arise from the consequences of a breach. Consequential
_____ Damages create substantial financial exposure if something goes wrong. Consequential