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Damages of contract law

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA LW Exams › Damages of contract law

  • This topic has 1 reply, 2 voices, and was last updated 1 year ago by MikeLittle.
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  • January 18, 2022 at 8:09 pm #646968
    fizaali
    Member
    • Topics: 50
    • Replies: 36
    • ☆☆

    Could you please explain the remoteness of losses and measure of damages in contract law?

    Remoteness of losses are those losses which cannot be recovered for all losses suffered because some losses are too remote (i.e. uncertain)

    Losses that are not remote:

    1) normal loss which is caused by breach of contract

    For eg normal profit from delay in bringing the new plan into use is a normal loss where the other party is liable for it.

    2) abnormal loss which is caused by

    For eg abnormal profit loss due to new machine being brought late by the manufacturer which result in a loss of abnormal profit. The other party is not liable for the loss of abnormal profit because they were not aware that the machine would be used for making abnormal profits.

    Am I correct? Please explain if I am incorrect.

    January 19, 2022 at 7:44 am #646986
    MikeLittle
    Keymaster
    • Topics: 26
    • Replies: 22705
    • ☆☆☆☆☆

    Sounds good to me

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