Estimate some aspect of injury caused by breach of contract

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Reference no: EM132183026

There are five different ways that we can measure legal (monetary) damages: 1) compensatory, 2) consequential, 3) nominal, 4) punitive, and 5) liquidated. Each of these attempts to estimate some aspect of injury caused by the breach of contract. While compensatory and consequential damages complement each other and are sometimes collectively called actual damages. Actual damages mutually exclude the award of nominal or liquidated damages. Nominal damages like liquidated damages preclude any other type of damage award. Finally, punitive damages will not be awarded for breach of contract because it would be contrary to public policy. How would awarding punitive damages for breach of contract harm society?

Reference no: EM132183026

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