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Indirect damages
- Consequential damages are indirect damages that a claimant suffers as a result of a breach of contract. Although consequential damages are far less common than compensatory damages, courts will award them under the right circumstances.
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What are consequential or special damages?
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What are the two types of breach of contract damages?
Can a construction contract waive consequential damages?
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When are consequential damages recoverable?
Dec 4, 2023 · What are Consequential Damages? Consequential or special damages work to remedy any indirect harm that resulted from the breach of contract. The guiding principle is that, despite the harm being an indirect consequence of the breach of contract, the harm still would not have occurred if the contract had been fully performed.
- Definition of Consequential Damages
- What Are Consequential Damages
- Limitation of Liability Clause in A Contract
- Consequential Damages vs. Direct Damages
- Consequential Damages Example Involving A Breach of Confidentiality
- Related Legal Terms and Issues
Noun 1. Damages that occur as an indirect result of an event. Origin Circa 14th century Middle English
Consequential damages are damages that occur as an indirect result of an incident. However, in order for someone to win consequential damages in a lawsuit, the damages must have been a foreseeable result of that incident. For example, consequential damages are often awarded to reimburse an accident victim’s loss of wages, when he could not work for...
When parties enter into a contract, it is understood that anyone can be held liable for damages caused by a breach of that contract. In order to protect themselves, many companies will include what is known as a Limitation of Liability clause in their contracts. The Limitation of Liability clause limits the extent to which that party can be held re...
The main difference between consequential and direct, or incidental, damages is that direct damages are paid to reimburse a plaintiff for something the defendant was supposed to do, but failed to do due, thus breaching the contract. The additional costs that the plaintiff incurs as a result of the defendant’s breach of contractthat were not initial...
Leading Market Technologies, Inc. (LMT) hired Silverpop Systems, Inc. to distribute advertisements through LMT’s confidential email address. However, hackers managed to access the section of Silverpop’s network where the email list was stored. The list may have been stolen, but LMT was unable to confirm that. Upon learning of this breach, LMT sued ...
Contract– An agreement between two or more parties in which a promise is made to do or provide something in return for a valuable benefit.Defendant– A party against whom a lawsuit has been filed in civil court, or who has been accused of, or charged with, a crime or offense.Loss of Consortium – The loss suffered by an individual after his spouse has died or been injured due to another person’s negligent or intentional act.Plaintiff – A person who brings a legal action against another person or entity, such as in a civil lawsuit, or criminal proceedings.May 5, 2021 · Consequential damages are indirect damages that a claimant suffers as a result of a breach of contract. Although consequential damages are far less common than compensatory damages, courts will award them under the right circumstances.
Consequential damages, also called special damages) are a form of remedy that can be claimed by the plaintiff against the defendant for the harm done as a consequence of the defendant's actions.
The indirect damages, often referred to as consequential damages, that flow from the delay can be astronomical to the point of breaking your company if it must pay them. As a result, many construction contracts, at every tier, contain a provision that waives consequential damages. By this waiver, a party seeks to limit its risk for these damages.
Dec 7, 2023 · What Are Consequential Damages? Consequential or special damages work to remedy any indirect harm that resulted from the breach of contract. The guiding principle is that, despite the harm being an indirect consequence of the breach of contract, the harm still would not have occurred if the contract had been fully performed.
Aug 4, 2023 · If consequential damages are included in your business contracts, it can serve as protection in the event the other side breaches the contract—if you are the non breaching party, you can truly be made whole by all the damages and losses the breach of contract caused you.
