Shared Flashcard Set

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Equities and Remedies
Professor
10
Law
Professional
12/31/2010

Additional Law Flashcards

 


 

Cards

Term
Future Damages
Definition
If getting all damages now don't add inflation
Term
Damages
Definition
A money remedy aimed at (a) making good the π’s losses, i.e., returning π to his rightful position (compensatory), or (b) punishing Δ (punitive)
Term
Restitution
Definition
Prevents unjust enrichment of Δ by making him give up what he wrongfully obtained from π
Term
Coercive remedies
Definition
A judicial command to Δ to act or to refrain from acting in order to prevent/correct harm. Failure to comply = contempt of court
Term
Declaratory remedies
Definition
An authoritative judicial statement of the parties’ rights for purpose of guiding future behavior/preventing loss
Term
Ancillary remedies
Definition
Various methods for recovering judgments and costs of obtaining them
Term
Compensatory Damages
Definition
Definition: A substitutionary monetary remedy designed to compensate plaintiff for injury by restoring to rightful position.
Justification: Corrective Justice; Economic Incentives to Rightful Conduct
Evidence: π’s losses
Term
Rightful Position: Contract
Definition
Generally $ recovery puts π
in position she would have been in had Δ not breached
Term
Rightful Position Tort
Definition
Generally $ recovery puts π in position she would have been in had Δ not committed the tort.
Term
Time of Valuing Loss
Definition
Three approaches to property that fluctuates in value, e.g., securities: (1) time of loss;
(2) highest intermediate value; or
(3) highest value between discovery and reasonable time to cover.
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