Contract Remedies
C H A P T E R O U T C O M E S
After reading and studying this chapter, you should be able to:
• Explain how compensatory damages and reliance damages are computed.
• Define (1) nominal damages, (2) incidental damages,
(3) consequential damages, (4) foreseeability of damages, (5) punitive damages, (6) liquidated damages, and (7) mitigation of damages.
• Define the various types of equitable relief and explain when the courts will grant such relief.
• Explain how restitutionary damages are computed and identify the situations in which restitution is available as a contractual remedy.
• Identify and explain the limitations on contractual remedies.
