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Richard Ellis
Richard Ellis
7 years ago

Expert analysis, and well written.

Rayan
Rayan
6 years ago

Equitable remedies are awarded subject to the court’s discretion and used when damages are an inadequate remedy. Therefore, it is vital for parties to address the inadequacy of damages by understanding the mechanism for damages calculation and, ultimately, incorporating into their contracts. Under §344 of the Restatement (Second) of Contracts (‘Purposes of Remedies’), damages shall be calculated as per the below mechanisms: Expectation interest The court will calculate monetary damages to put the Plaintiff in a position as if the contract was fully performed. For example, the Plaintiff provided a service to the defaulting Defendant worth $100,000, expectation damages would… Read more »

Chris Fry
Chris Fry
6 years ago

Very well written and very informative. I would have to agree that the emphasis should be on appropriate remedies

Shuwen
Shuwen
3 years ago

This well written article provided me with a review of some important points in both Property and Contracts, as well as gave me a general picture of what does equitable remedies look like in New York. Equitable remedy is within a court’s discretion, and as the article has discussed, it includes specific performance, injunction, recission (cancellation of the contract by mutual decision or by court), etc. Courts have the equitable power to decide the appropriate type of relief. The previous post from Rayan has addressed the mechanism for damages calculation and the 3 types of damage awards, so I will… Read more »

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