Dealer breaks a K by refusing to buy a painting for the K price of 100. Artist spent $60 to make it. The only price artist can get for the painting is $40. It costs $35 to resell painting. Should artist resell?
a) What are expectation damages?
b) What are expectation damages is Artist does not resell?
c) What if the resale costs were $50?
I am getting a wide range of answers. I have
100K Price
- $60 costs to make
= 40 Profits
+ 40 to sell painting to another
- 35 cost to resell
-60 money spent
40 + 55 = 95. Correct answer or nay for A?
Need Help With Damages Hypo Forum
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Pokemon
- Posts: 3528
- Joined: Thu Jan 12, 2012 11:58 pm
Re: Need Help With Damages Hypo
Expectation damages are $100 if there is no resale.
If he resells at $40, but the cost of the resale is $35, then mitigation is $5. So $100-$5= $95. Expectation damages should be $95.
If the resale costs are $50, he should not resale... he needs to mitigate the damages...
It has been over a year, but that is how I see it.
If he resells at $40, but the cost of the resale is $35, then mitigation is $5. So $100-$5= $95. Expectation damages should be $95.
If the resale costs are $50, he should not resale... he needs to mitigate the damages...
It has been over a year, but that is how I see it.
