if the difference between market price and the contract price is paid as damge then its is called:
1 ) general damages
2)special damages
3) vindictive damages
4)nominal damages
Answers
Answer:
1 ) n. monetary recovery (money won) in a lawsuit for injuries suffered (such as pain, suffering, inability to perform certain functions) or breach of contract for which there is no exact dollar value which can be calculated.
2 ) Some of the examples of Special damages are: Loss of business opportunities, contract and profits. Damage or loss to business reputation. Loss of time and other inconveniences.
Answer:
The correct answer is 1) general damages.
Explanation:
General damages are a kind of compensation that is awarded to the injured birthday celebration in a lawsuit to cowl the proper damage or loss suffered as a end result of the defendant's actions. In the context of a contract, if the distinction between the market charge and the contract rate is paid as damages, it would be regarded widespread damages.
In this case, the injured celebration would be the birthday celebration who entered into the contract and suffered a loss due to the breach of contract by way of the different party. The prevalent damages awarded would be supposed to compensate for the real loss suffered, which in this case is the distinction between the market charge and the contract price.
Special damages, on the different hand, are damages that are awarded to compensate for unique financial losses that can be calculated with certainty, such as misplaced earnings or scientific expenses. Vindictive damages and nominal damages are different kinds of damages that may additionally be awarded in positive situations, however they do now not follow to the situation described in the question.
For more such related questions : https://brainly.in/question/32667309
#SPJ2