Help TTH Be Less Stupid

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TTH
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Help TTH Be Less Stupid

Postby TTH » Sat Mar 12, 2011 7:26 pm

I was reading the contracts E&E today while at the gym, and there was something about their damages formulation that threw me off. Normally, I would chalk this up to the E&E being wrong, but our professor this semester never taught contracts before, so I'm not confident that I know the standard measure very well.

Now, I don't want to infringe on Aspen's copyright, so I'm going to vary up the fact pattern a little.

hypo wrote:Wakeboard loves anal stimulation, so he contracts with Paratactical for Para to build him a custom set of extra large, studded, ebony anal beads. Para quoted him a price of $1,500 for the anal beads and requires a $150 down payment, which Wake pays. Para spends $200 on ebony and begins shaping and polishing them, but has not yet bought the carpet tacks she will need for the beads, which cost $50 on the market.

A week later, Wake was savagely taken in the rear by a horse after answering "get fucked by a horse" in the Peas/Para poll on St. Tristan's Day, when all TLS poll answers come literally true. The Doctor forbade Wake from any such adventures, and ever conscious of his health, repudiated the contract with Para. Para checks scrap prices for ebony on the spot market and finds she can offload the scrap ebony for $5. What are her damages?


Is this the right way to figure it?
Value of K: $1,500
- Para's Direct Costs: $250
Para's Expectation Interest: $1,250

+ Costs Incurred: $200 ($1,450)
- Deposit Paid: $150 ($1,300)
- Cost Avoided: $50 ($1,250)
- Scrap Value: $5 ($1,245)
Damages: $1,245

The E&E Did all the same things, except they didn't subtract the $50 for the cost avoided, coming up with a figure of $1,295. The way I learned standard measure is Value of K + Incidental and Consequential - (Costs Avoided + Offsets)

So help a brotha out. What am I missing? Or is the E&E wrong?


PS. I know the hypo might earn me a time out, but let me get some answers first before you edit it out?

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jne381
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Re: Help TTH Be Less Stupid

Postby jne381 » Sat Mar 12, 2011 8:15 pm

TTH wrote:I was reading the contracts E&E today while at the gym, and there was something about their damages formulation that threw me off. Normally, I would chalk this up to the E&E being wrong, but our professor this semester never taught contracts before, so I'm not confident that I know the standard measure very well.

Now, I don't want to infringe on Aspen's copyright, so I'm going to vary up the fact pattern a little.

hypo wrote:Wakeboard loves anal stimulation, so he contracts with Paratactical for Para to build him a custom set of extra large, studded, ebony anal beads. Para quoted him a price of $1,500 for the anal beads and requires a $150 down payment, which Wake pays. Para spends $200 on ebony and begins shaping and polishing them, but has not yet bought the carpet tacks she will need for the beads, which cost $50 on the market.

A week later, Wake was savagely taken in the rear by a horse after answering "get fucked by a horse" in the Peas/Para poll on St. Tristan's Day, when all TLS poll answers come literally true. The Doctor forbade Wake from any such adventures, and ever conscious of his health, repudiated the contract with Para. Para checks scrap prices for ebony on the spot market and finds she can offload the scrap ebony for $5. What are her damages?


Is this the right way to figure it?
Value of K: $1,500
- Para's Direct Costs: $250
Para's Expectation Interest: $1,250

+ Costs Incurred: $200 ($1,450)
- Deposit Paid: $150 ($1,300)
- Cost Avoided: $50 ($1,250)
- Scrap Value: $5 ($1,245)
Damages: $1,245

The E&E Did all the same things, except they didn't subtract the $50 for the cost avoided, coming up with a figure of $1,295. The way I learned standard measure is Value of K + Incidental and Consequential - (Costs Avoided + Offsets)

So help a brotha out. What am I missing? Or is the E&E wrong?


PS. I know the hypo might earn me a time out, but let me get some answers first before you edit it out?


If para didn't buy the tacks yet, I don't see why it would be considered a direct cost. It is not a cost at all. I don't think it should be figured in.

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98234872348
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Re: Help TTH Be Less Stupid

Postby 98234872348 » Sat Mar 12, 2011 8:23 pm

jne381 wrote:
TTH wrote:I was reading the contracts E&E today while at the gym, and there was something about their damages formulation that threw me off. Normally, I would chalk this up to the E&E being wrong, but our professor this semester never taught contracts before, so I'm not confident that I know the standard measure very well.

Now, I don't want to infringe on Aspen's copyright, so I'm going to vary up the fact pattern a little.

hypo wrote:Wakeboard loves anal stimulation, so he contracts with Paratactical for Para to build him a custom set of extra large, studded, ebony anal beads. Para quoted him a price of $1,500 for the anal beads and requires a $150 down payment, which Wake pays. Para spends $200 on ebony and begins shaping and polishing them, but has not yet bought the carpet tacks she will need for the beads, which cost $50 on the market.

A week later, Wake was savagely taken in the rear by a horse after answering "get fucked by a horse" in the Peas/Para poll on St. Tristan's Day, when all TLS poll answers come literally true. The Doctor forbade Wake from any such adventures, and ever conscious of his health, repudiated the contract with Para. Para checks scrap prices for ebony on the spot market and finds she can offload the scrap ebony for $5. What are her damages?


Is this the right way to figure it?
Value of K: $1,500
- Para's Direct Costs: $250
Para's Expectation Interest: $1,250

+ Costs Incurred: $200 ($1,450)
- Deposit Paid: $150 ($1,300)
- Cost Avoided: $50 ($1,250)
- Scrap Value: $5 ($1,245)
Damages: $1,245

The E&E Did all the same things, except they didn't subtract the $50 for the cost avoided, coming up with a figure of $1,295. The way I learned standard measure is Value of K + Incidental and Consequential - (Costs Avoided + Offsets)

So help a brotha out. What am I missing? Or is the E&E wrong?


PS. I know the hypo might earn me a time out, but let me get some answers first before you edit it out?


If para didn't buy the tacks yet, I don't see why it would be considered a direct cost. It is not a cost at all. I don't think it should be figured in.

Wouldn't that be like saying "you just breached a K with me for $5000, that would normally cost me $4000 to complete, but since i haven't purchased the materials I can recover 5000 rather than 1000"?

Methinks TTH is right.

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jne381
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Re: Help TTH Be Less Stupid

Postby jne381 » Sat Mar 12, 2011 8:24 pm

Yeah, I ran his numbers and saw how it was figured, and I got the same answer as TTH.

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gobucks101
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Re: Help TTH Be Less Stupid

Postby gobucks101 » Sat Mar 12, 2011 8:26 pm

I don't remember a goddamn thing from K but I love the hypo

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Wholigan
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Re: Help TTH Be Less Stupid

Postby Wholigan » Sat Mar 12, 2011 8:35 pm

TTH wrote:I was reading the contracts E&E today while at the gym, and there was something about their damages formulation that threw me off. Normally, I would chalk this up to the E&E being wrong, but our professor this semester never taught contracts before, so I'm not confident that I know the standard measure very well.

Now, I don't want to infringe on Aspen's copyright, so I'm going to vary up the fact pattern a little.

hypo wrote:Wakeboard loves anal stimulation, so he contracts with Paratactical for Para to build him a custom set of extra large, studded, ebony anal beads. Para quoted him a price of $1,500 for the anal beads and requires a $150 down payment, which Wake pays. Para spends $200 on ebony and begins shaping and polishing them, but has not yet bought the carpet tacks she will need for the beads, which cost $50 on the market.

A week later, Wake was savagely taken in the rear by a horse after answering "get fucked by a horse" in the Peas/Para poll on St. Tristan's Day, when all TLS poll answers come literally true. The Doctor forbade Wake from any such adventures, and ever conscious of his health, repudiated the contract with Para. Para checks scrap prices for ebony on the spot market and finds she can offload the scrap ebony for $5. What are her damages?


Is this the right way to figure it?
Value of K: $1,500
- Para's Direct Costs: $250
Para's Expectation Interest: $1,250

+ Costs Incurred: $200 ($1,450)
- Deposit Paid: $150 ($1,300)
- Cost Avoided: $50 ($1,250)
- Scrap Value: $5 ($1,245)
Damages: $1,245

The E&E Did all the same things, except they didn't subtract the $50 for the cost avoided, coming up with a figure of $1,295. The way I learned standard measure is Value of K + Incidental and Consequential - (Costs Avoided + Offsets)

So help a brotha out. What am I missing? Or is the E&E wrong?


PS. I know the hypo might earn me a time out, but let me get some answers first before you edit it out?


You don't subtract $50 for cost avoided becaused you already accounted for it when you subtracted it in the $250 for direct costs. You are accounting for it twice.

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TTH
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Re: Help TTH Be Less Stupid

Postby TTH » Sat Mar 12, 2011 8:40 pm

Wholigan wrote:You don't subtract $50 for cost avoided becaused you already accounted for it when you subtracted it in the $250 for direct costs. You are accounting for it twice.


but wouldn't the seller get overcompensated then? If I don't subtract the $50 for costs avoided, the seller would stand to recover $1,295, or $45 more than she would have got had the K been performed.

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Wholigan
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Re: Help TTH Be Less Stupid

Postby Wholigan » Sat Mar 12, 2011 8:44 pm

No, the seller is actually recieving $1445. $150 deposit + $1295 now.

$1445 is what she is owed= $1250 (Expectation Interest) + 195 Net outlay on Ebony.

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whirledpeas86
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Re: Help TTH Be Less Stupid

Postby whirledpeas86 » Mon Mar 14, 2011 8:10 am

As a 0L, I don't know what the hell any of this means. However, I'm a fan of the hypo. :lol:

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iwakeboard
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Re: Help TTH Be Less Stupid

Postby iwakeboard » Mon Mar 14, 2011 8:34 am

Fuck you all, and I'm not helping you with Expectation damages. :evil:

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James Bond
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Re: Help TTH Be Less Stupid

Postby James Bond » Mon Mar 14, 2011 8:53 am

iwakeboard wrote:Fuck you all, and I'm not helping you with Expectation damages. :evil:


:lol:

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Kohinoor
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Re: Help TTH Be Less Stupid

Postby Kohinoor » Mon Mar 14, 2011 9:08 am

TTH wrote:
Wholigan wrote:You don't subtract $50 for cost avoided becaused you already accounted for it when you subtracted it in the $250 for direct costs. You are accounting for it twice.


but wouldn't the seller get overcompensated then? If I don't subtract the $50 for costs avoided, the seller would stand to recover $1,295, or $45 more than she would have got had the K been performed.

The seller would have stood to recover 1350 if the buyer had performed fully. Whol takes it.

keg411
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Re: Help TTH Be Less Stupid

Postby keg411 » Mon Mar 14, 2011 10:44 am

gobucks101 wrote:I don't remember a goddamn thing from K but I love the hypo


+1

:lol:

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paratactical
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Re: Help TTH Be Less Stupid

Postby paratactical » Mon Mar 14, 2011 10:49 am

whirledpeas86 wrote: I don't know what the hell any of this means. However, I'm a fan of the hypo. :lol:

+1




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