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Liquidated damages, also referred to as liquidated and ascertained damages (LADs), [1] are damages whose amount the parties designate during the formation of a contract [2] for the injured party to collect as compensation upon a specific breach (e.g., late performance). [3] This is most applicable where the damages are intangible.
Fidelity used the information to target residents of Palm Beach, Martin, and Broward Counties for car loan solicitations. The U.S. District Court for the Southern District of Florida ruled in June 2004 that James Kehoe needed to demonstrate actual damages before obtaining any monetary recovery under the DPPA.
Damages in the UK are the only [4] remedy available for breach of a warranty. [citation needed] Those damages can come in different forms such as an award of monetary damages, liquidation damages, specific performances, rescission, and restitution. [5] Damages are classified as being compensatory or punitive.
The filing of a declaratory judgment lawsuit can follow the sending by one party of a cease-and-desist letter to another party. [6] A party contemplating sending such a letter risks that the recipient, or a party related to the recipient (i.e. such as a customer or supplier), may file for a declaratory judgment in their own jurisdiction, or sue for minor damages in the law of unjustified threats.
Special damages compensate the claimant for the quantifiable monetary losses he has suffered. [13] For example, extra costs, repair or replacement of damaged property, lost earnings (both historically and in the future), loss of irreplaceable items, additional domestic costs, and so on. [14] They are seen in both personal and commercial actions.
Reliance damages compensate the harmed party for the amount of damages they suffered for acting in reliance on the other party's contractual obligations. They are most often rewarded when the aggrieved party's damages are not capable of accurate estimation and ordering specific performance would be inappropriate. [5]
An example would be neglect or a failure to perform any obligations outlined by the contract. The letters and the email follow a series of high-profile violent incidents and killings at both ...
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] For example, consequential damages are a potential type of expectation damages that arise in contract law.