Are you involved in a breach of contract case in Miami and want to collect money damages? You may want to read what the Miami Appeal Court said in a recent April 8, 2015, decision.
Can I receive money damages in a breach of contract litigation suit?
- Asking for money damages as a result of another person’s breach of contract is typical in a commercial litigation lawsuit in Miami, Broward, and Palm Beach County.
- In Florida, a buyer in a breach of contract lawsuit may ask for money damages.
- Money damages for a breach of a sales contract can be measured by the difference between the market price of the product and the contract price.
- For example, imagine if a seller agrees to sell a car to a buyer for $2000 while the market price of the car is $5000. If the seller breaches the contract for sale of the car, the buyer may seek money damages in the amount of $3000, which is the difference between the market price of the car ($5000) and the contract price the seller agreed to ($2000).
- This damage calculation is called “expectation interest.”
- In a recent Miami appeal court case of a commercial litigation, breach of contractlawsuit, the seller wanted to get out of a contract for the sale of a diamond.
- The seller mistakenly agreed to sell the diamond to the buyer for a very low price.
- When the seller realized its mistake, it refused to deliver the diamond and tried to back out of the contract.
- The Miami appeal court ruled that the buyer in this breach of contract litigation could elect to request money damages based on his expectation interest. To read a free online copy of this legal opinion, click here.
Anyone who has been involved in a business lawsuit in Palm Beach knows that damagesmust be proven at your business litigation trial.
- Do you know how you are going to prove damages in your breach of contract lawsuit in Boca Raton?
- Your business litigator in Palm Beach will want documents, testimony, and evidence to prove damages under Florida damage law.
- One question for your contract lawyer is: Do you need an expert to prove damages in aMiami breach of contract lawsuit?
Whoever wins in a Palm Beach, breach of contract lawsuit may calculate damages in one of three ways:
- “Expectation interest” puts him in as good a position as he would have been in had the contract been performed.
- “Reliance interest” reimburses him for loss caused by reliance on the contract by being put in as good a position as he would have been in had the contract not been made.
- “Restitution interest” restores to him any benefit that he has conferred on the other party.