430,713 research outputs found

    Reliance Remedies at the International Centre for the Settlement of Investment Disputes

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    Examines situations in which the International Centre for the Settlement of Investment Disputes has awarded damages for the cost of the investment, which may be compared to the contract law concept of reliance damages. Notes that this measure of damages is often used where lost profits are difficult to calculate because of the speculative nature of the future investment

    Collective proceedings for damages in UK Competition Law. Case comment to the judgment Merricks v Mastercard [2019] EWCA Civ 674

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    Merricks v Mastercard [2019] is the first action under the newly developed ‘opt-out’ collective proceedings regime for aggregate damages under UK competition law to be considered by the UK Court of Appeal. It is significant for both the level of damages (£14 billion (€16 billion)) and the clarification of the legal test at the certification stage for the suitability for an aggregate award: the method for calculation of the aggregate damages and the sufficiency of evidence. The Court’s lowering of these thresholds importantly opens the door to future class actions and reasserts the importance of collective proceedings as a valuable means of redress for competition law infringements. The decision has now been appealed to the UK Supreme Court where these issues may be further clarified and resolved

    2001Survey of Rhode Island Law: Cases: Damages

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    Loss

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    Within Republican political circles, numerous state legislatures, and even the U.S. Congress, advocating caps on noneconomic damages in tort suits is in vogue, as part of the ongoing politics of tort reform. Yet, the distinction between economic and noneconomic damages is nonsensical. It does not originate in the discipline of economics, but seems instead to be purely a rhetorical invention of those who wish to limit damages by any means politically possible. But law reform based on sheer rhetoric should be shunned; unprincipled rhetoric is no substitute for justificatory reasons, and to make laws without reasons exemplifies arbitrariness and injustice. The focus of this article is relatively narrow--restricted primarily to revealing the incoherence of a purported distinction between economic and noneconomic harms or losses--the author\u27s pursuit of this point reveals, along the way, certain similarities between the common law of tort and the main ideas of modem economics. Quite often, those who defend the common law approach to torts contrast it with an economic interpretation of this area of law. While there may be areas where economics and tort law conflict, understanding loss is not one of them

    The current European perspective on the exequatur of U.S. punitive damages: opening the gate but keeping a guard

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    Global trade and intercontinental tourism are on the rise in today’s world. This, in turn, leads to more cross-border law suits. Inevitably, jurisdictions will be confronted with legal concepts that are unknown in the host forum. This contribution investigates whether, and to what extent, punitive damages judgments originating in the United States can be enforced against the assets of a defendant in a number of selected Member States of the EU. More specifically, the article explores the possibilities of enforcing American punitive damages judgments in five EU countries, namely Germany, Italy, Spain, France and England. This comparative analysis reveals that the case law in these selected countries is relatively divergent as to the stance adopted towards foreign punitive damages, resulting in different degrees of acceptance of this legal remedy

    Spoiled holidays: Damages for disappointment or distress

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    Generally damages for disappointment or distress following a breach of contract will not be awarded to the innocent party under common law. However where the object of the contract is to provide relaxation or enjoyment, for example, an ocean cruise or a package holiday, damages may be recoverable for disappointment or distress. Damages of this type may also be awarded where there is a breach of the consumer protection provisions of the Trade Practices Act 1974 (Cth). This paper discusses a number of ‘spoiled’ holiday cases where damages were awarded for disappointment or distress. The liability of travel service providers under the Trade Practices Act 1974 (Cth) is also discussed

    Cooperative Investments Induced by Contract Law

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    Lecture on the first SFB/TR 15 meeting, Gummersbach, July, 18 - 20, 2004This paper revisits the economic analysis of contract law for a setting of cooperative investments. While Che and Chung (1999) have shown that expectation damages perform rather poorly, the present paper argues that this negative result follows from their impicit assumption of unilateral expectation damages. Yet, the very nature of cooperative investments gives rise to the possibility that both parties may claim expectation damages. It is shown that such a regime of bilateral expectation damages provides the incentives for the first best solution even in a framework of binary choice where, for selfish investments, the traditional overreliance result would hold

    Producer Protection Legislation and Termination Damages in the Presence of Contracting Frictions

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    This study models producer protection legislation that would grant growers the right to claim damages (PPLD) if their contracts are prematurely terminated. In the absence of contracting frictions that prevent contractors from redesigning contracts to accommodate exogenous policy changes, PPLD would not be distortionary or redistributive. If contracting frictions exist, then PPLD would have efficiency and redistributive effects, though the direction and magnitude depends on the size of PPL damages vis-à-vis expected damages under existing contract law. This study clarifies the conditions under which PPLD would decrease efficiency and protect growers.agricultural policy, moral hazard, producer protection legislation, contracts, contract law

    A Note on the Equivalence between Contractual and Tort Liability

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    The aim of this paper is to conciliate some conclusions of the economic theories of breach of contract and tort law. The main result is that the two efficient alternatives that tort law identifies (negligence rule and strict liability with a defense of contributory negligence) are mirrored by two efficient ways of defining contract damages. The first consists of forcing the debtor to pay expectation damages but limiting the level of the creditor’s reliance (rule of damage mitigation). The second consists of obliging the debtor to pay expectation damages only when his breach of contract implies negligence, otherwise using restitution remedies (doctrines of impracticability and force majeure).

    A comparison of two alternative methods for determining loss of future earnings following personal injuryí

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    The law provides that any person injured through the fault of another can claim monetary compensation in the form of damages. Restitutio in integrum defines the objective and measure of damages. Damages in respect of loss of future earnings comprise the product of an estimated annual loss and an estimated number of years purchase. Estimates are made by means of intuition and precedent with little reference to labour economics. Damages calculated under an alternative methodology incorporating age-earnings profiles and conditional employment rates are compared with damages awarded in 100 adjudicated cases to reveal systematic and substantial under-compensation under the court method.
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