Asked by
rahmo hayow
on Nov 30, 2024
Verified
Incidental damages include lost profits and injury to person or property resulting from defective performance.
Incidental Damages
Additional costs incurred as a consequence of a breach of contract, beyond the direct damages or loss.
Lost Profits
Lost profits refer to the potential earnings a company or individual was unable to realize due to another party's wrongful acts or breaches of contract.
Defective Performance
The failure to meet the required or expected standards of performance in the execution of a contractual duty or obligation.
- Separate the concepts of compensatory, punitive, liquidated, and nominal damages to comprehend their implications in cases involving breaches of contract.
Verified Answer
LT
Learning Objectives
- Separate the concepts of compensatory, punitive, liquidated, and nominal damages to comprehend their implications in cases involving breaches of contract.