BUSINESS ADMINISTRATION
BUSINESS LAW
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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general damages
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compensatory damages
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consequential damages
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liquidated damages
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Detailed explanation-1: -Special damages (also called “consequential damages”) cover any loss incurred by the breach of contract because of special circumstances or conditions that are not ordinarily predictable. These are actual losses caused by the breach, but not in a direct and immediate way.
Detailed explanation-2: -There are many types of damages for breach of contract that you may receive should a breach occur, these being meted out both to deter parties from breaking contracts and to compensate parties should a contract be broken. The main types of damages are compensatory, liquidation, punitive, nominal, and ordinary damages.
Detailed explanation-3: -Consequential damages, also called special damages) are a form of remedy that can be claimed by the plaintiff against the defendant for the harm done as a consequence of the defendant’s actions.
Detailed explanation-4: -Commonly, consequential damages include property damage, personal injury, attorneys’ fee, lost profits, loss of use, liability of buyer to customers, loss of goodwill, interest on money withheld by customers, and damages related to third party claims.