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Rather, the principle is that "damages will be limited by an assumption that [a plaintiff] has taken reasonable steps in mitigation of loss", regardless of whether they have not in fact taken such steps. [3] Even where case law speaks of a "duty to mitigate", the duty has been cited as "not a demanding one". [4]
Delay, Deny, Defend is a critical exploration of the property and casualty insurance industry, examining how its practices affect policyholders.Feinman, a law professor specializing in consumer rights and insurance law, argues that the industry prioritizes profits over policyholders' needs, often using tactics like delaying or denying legitimate claims to bolster financial performance.
Consequential damages go beyond the contract itself and into the actions that arise from the failure to fulfill. The type of claim giving rise to the damages, such as whether it is a breach of contract action or tort claim, can affect the rules or calculations associated with a given type of damages. [3]
Special damages can include direct losses (such as amounts the claimant had to spend to try to mitigate damages) [15] and consequential or economic losses resulting from lost profits in a business. Damages in tort are awarded generally to place the claimant in the position in which he would have been had the tort not taken place. [16]
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.
Mitigation planning identifies policies and actions that can be taken over the long term to reduce risk, and in the event of a disaster occurring, minimize loss. Such policies and actions are based on a risk assessment , using the identified hazards , vulnerabilities and probabilities of occurrence and estimates of impact to calculate risks ...
The avoidable consequences rule is a concept in United States jurisprudence which comes from a common-law rule barring recovery of damages that a tort victim "could have avoided by the use of reasonable effort or expenditure after the commission of the tort."
The floodgates principle, or the floodgates argument, is a legal principle which is sometimes applied by judges to restrict or limit the right to make claims for damages because of a concern that permitting a claimant to recover in such situations might open the metaphorical "floodgates" to large numbers of claims and lawsuits. [1]