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Reliance damages is the measure of compensation given to a person who suffered an economic harm for acting in reliance on a party who failed to fulfill their obligation. [1] If the injured party could go back in time, they should be indifferent to entering into the contract that would be breached and receiving the reliance damages as opposed to ...
Anglia Television Ltd v Reed [1972] 1 QB 60 is an English contract law case, concerning the right to reliance damages for loss flowing from a breach of contract.
The purpose of expectation damages is to put the non-breaching party in the position it would have occupied had the contract been fulfilled. [2] Expectation damages can be contrasted to reliance damages and restitution damages, which are remedies that address other types of interests of parties involved in enforceable promises. [3]
Hedley Byrne & Co Ltd v Heller & Partners Ltd [1964] AC 465 is an English tort law case on economic loss in English tort law resulting from a negligent misstatement. Prior to the decision, the notion that a party may owe another a duty of care for statements made in reliance had been rejected, [1] with the only remedy for such losses being in contract law. [2]
Damages in tort are awarded generally to place the claimant in the position in which he would have been had the tort not taken place. [16] Damages for breach of contract are generally awarded to place the claimant in the position in which he would have been had the contract not been breached. This can often result in a different measure of damages.
Consequential damages go beyond the contract itself and into the actions that arise from the failure to fulfill. The type of claim giving rise to the damages, such as whether it is a breach of contract action or tort claim, can affect the rules or calculations associated with a given type of damages. [3]
The theory of efficient breach seeks to explain the common law's preference for expectation damages for breach of contract, as distinguished from specific performance, reliance damages, or punitive damages. According to Black's Law Dictionary, efficient breach theory is "the view that a party should be allowed to breach a contract and pay ...
R Taylor, 'Expectation, Reliance and Misrepresentation' (1982) 45 MLR 139; R Hooley, 'Damages and the Misrepresentation Act 1967' (1991) 107 LQR 547, [89] I Brown and A Chandler, 'Deceit, Damages and the Misrepresentation Act 1967, s 2(1)' [1992] LMCLQ 40; H Beale, ‘Damages in Lieu of Rescission for Misrepresentation’ (1995) 111 LQR 60