Expectation Damages
The default contract remedy intended to give the non-breaching party the benefit of its bargain, putting it in the position it would have occupied if the contract had been performed.
Encyclopedia entry: Expectation Damages
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expectation damages
Expectation damages are damages that can be recovered from a contract breach by the non-breaching party . It intends to put the non-breaching party in as good of a position as if the breaching party fully performed their contractual duties . As for the calculation, in brief, expectation damages are the difference between what was given and what was promised, along with consequential and incidental costs.
[Last reviewed in October of 2022 by the Wex Definitions Team
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Encyclopedia content from Cornell LII Wex (CC-BY-NC-SA 2.5).
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This is legal information, not legal advice. Laws vary by jurisdiction and change frequently. Always verify current law with official sources and consult a licensed attorney in your jurisdiction for advice on your specific situation.