Expectation damages are damages recoverable from a breach of contract by the non-breaching party. It originates from an injured party's interest in realizing the value of the expectancy that was created by the promise of the other party.
The purpose of expectation damages is to put the non-breaching party in the position he would have occupied had the contract been fulfilled. Expectation damages can be contrasted to reliance damages and restitution damages, which are remedies that address other types of interests of parties involved in enforceable promises.
The default for expectation damages are monetary damages which are subject limitations or exceptions (see below)
Expectation damages are measured by the diminution in value, coupled with consequential and incidental damages.
Read more about Expectation Damages: Measuring Expectation Damages, Example, Potential Exceptions or Limitations To General Rule On Measure of Damages (expectation Damages)
Famous quotes containing the words expectation and/or damages:
“The expectation that every neurotic phenomenon can be cured may, I suspect, be derived from the laymans belief that the neuroses are something quite unnecessary which have no right whatever to exist. Whereas in fact they are severe, constitutionally fixed illnesses, which rarely restrict themselves to only a few attacks but persist as a rule over long periods throughout life.”
—Sigmund Freud (18561939)
“According to the law of nature it is only fair that no one should become richer through damages and injuries suffered by another.”
—Marcus Tullius Cicero (10643 B.C.)