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Damages for breach of contract is a common law remedy, available as of right. [1] It is designed to compensate the victim for their actual loss as a result of the wrongdoer’s breach rather than to punish the wrongdoer. If no loss has been occasioned by the plaintiff, only nominal damages will be awarded.
As stated by the Canadian Federal Court of Appeal in Redpath Industries Ltd. v. Cisco (The), [1] "It is well established that a party who suffers damages as a result of a breach of contract has a duty to mitigate those damages, that is to say that the wrongdoer cannot be called upon to pay for avoidable losses which would result in an increase ...
Reminder: your deductible is the amount you’ll pay for certain auto insurance coverage types to kick in. For example, if you do serious damage to your car — say, you back into something large ...
Indemnity insurance compensates the beneficiaries of the policies for their actual economic losses, up to the limiting amount of the insurance policy. It generally requires the insured to prove the amount of its loss before it can recover. Recovery is limited to the amount of the provable loss even if the face amount of the policy is higher.
Liability for payment of an award of damages is established when the claimant proves, on the balance of probabilities, that a defendant's wrongful act caused a tangible, harm, loss or injury to the plaintiff. Once that threshold is met, the plaintiff is entitled to some amount of recovery for that loss or injury. No recovery is not an option.
Damages are sometimes hard to assess; hence the non-breaching party determine the amount to pay for the breach. [15] The example of this damage is when the plaintiff has a contract in purchasing defendant's house under their agreement, and the defendant must pay back the deposit money as liquidated damages since there exists a breach of a ...
The uninsured motorist coverage and underinsured motorist coverage options are structured similarly to liability, but pay for your damages if someone hits you and doesn’t have any insurance or ...
In that case, Nationwide sought to deny insurance coverage to a woman who loaned her car to a friend, after the friend got into a collision. Due to the particular wording of the omnibus clause within the insurance policy, which in itself contains the hell or high water clause, the court ruled that Nationwide must provide coverage for the collision.