Damages For Breach Of Contract: Measurement And Limitations.
Mondaq Business Briefing › Nbr. 2005, January 2005
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Damages For Breach Of Contract: Measurement And Limitations.
by N. O. Stockmeyer*
The following article is an edited abridgement of Chapter 13, AGeneral Principles of Contract Damages,@ from Michigan Law of Damages and Other Remedies (2002), published by the Institute of Continuing Legal Education, Ann Arbor, Michigan, Reprinted with permission. Tort lawsuits get more attention in the press, but contract lawsuits outnumber tort lawsuits in most state courts. In turn, the most important aspect of most contract lawsuits is the determination of damages. Few lawsuits are undertaken merely for a declaration of rights or to recover nominal damages. Yet comparatively little has been written on the topic of contract damages. Thus the purpose of this article is to summarize the legal principles recognized by Michigan courts as governing the measurement of, and limitations on, damages for breach of contract. Measures of Recovery The Expectation Measure In a typical contract, one party has a duty to perform (construct a building,...See the full content of this document
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