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Damages for Breach of Contract - NYU School of Law

1 I. Damages in General 2 II. Limitations on Damages 3 A. Remoteness/Foreseeability 3 B. Uncertainty 4 C. Avoidability 5 III. Liquidated Damages 7 IV. Specific Performance 11 A. Land or Goods 11 B. Personal Services 12 V. Restitution 13 A. On the Contract 13 B. For the Party in Breach 14 C. Quasi- Contract 14 VI. Consideration 15 A. Consideration in General 15 B. Pre-Existing Duty Rule 18 VII. Reliance/Promissory Estoppel 22 VIII. Offer and Acceptance 27 A. Introduction to Objective Theory 27 B. Preliminary Negotiations 28 C. Agreements in Principle/Letters of Intent 32 D. Revocation 33 E. Acceptance by Correspondence 34 F. Acceptance by Performance 35 G. Acceptance by Silence 37 H. Acceptance in General 38 IX. interpreting Assent 39 A.

Interpreting Assent 39 A. Agreements to Agree 39 B. Illusory Promises 40 ... Second Restatement of Contracts §352: Uncertainty as a Limitation on Damages ... •This is the law‘s way of attempting to prevent waste •Important to understand this concept vis-à-vis efficient breach

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