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The theory of efficient breach seeks to explain the common law's preference for expectation damages for breach of contract, as distinguished from specific performance, reliance damages, or punitive damages. According to Black's Law Dictionary, efficient breach theory is "the view that a party should be allowed to breach a contract and pay ...
Economy of force is one of the nine Principles of War, based upon Carl von Clausewitz's approach to warfare. It is the principle of employing all available combat power in the most effective way possible, in an attempt to allocate a minimum of essential combat power to any secondary efforts.
Economic loss generally refers to financial detriment that can be seen on a balance sheet but not physically. Economic loss is then divided into "consequential economic loss" - that which arises directly from some physical damage or injury (e.g. loss of earnings from having your arm cut off) and "pure economic loss", which is everything else.
In England and Wales, section 53(2) of the Sale of Goods Act 1979 articulates the first limb of Hadley, [t]he measure of damages for breach of warranty is the estimated loss directly and naturally resulting, in the ordinary course of events, from the breach of warranty, while section 53(4), The fact that the buyer has set up the breach of ...
Also called resource cost advantage. The ability of a party (whether an individual, firm, or country) to produce a greater quantity of a good, product, or service than competitors using the same amount of resources. absorption The total demand for all final marketed goods and services by all economic agents resident in an economy, regardless of the origin of the goods and services themselves ...
One example listed in the Georgia class-action is that the prevailing going-rate for a Maserati-certified facility to perform paint labor is $105/hour. Yet, “State Farm has uniformly rejected ...
Economic torts protect people from interference with their trade or business. The area includes the doctrine of restraint of trade and has largely been submerged in the twentieth century by statutory interventions on collective labour law, modern antitrust or competition law, and certain laws governing intellectual property, particularly unfair competition law.
Economic warfare or economic war is an economic strategy used by belligerent states with the goal of weakening the economy of other states. This is primarily achieved by the use of economic blockades. [1] Ravaging the crops of the enemy is a classic method, used for thousands of years.