Template:Loss of profits vs account for profits: Difference between revisions
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Amwelladmin (talk | contribs) (Created page with "The remedy of special damages for loss of profits compensates an innocent party for opportunities and profits she would have been able to take had the guilty party not breached its duties to her. This is different from the remedy of “accounting for profits” whereby the guilty party has to disgorge profits it has actually made in breach of his contractual or fiduciary duty to the innocent party.") |
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The remedy of [[special damages]] for [[loss of profits]] compensates an innocent party for opportunities and profits she would have been able to take had the guilty party not breached | The remedy of [[special damages]] for [[loss of profits]] — when available, which will be hardly ever — compensates an innocent party to a contract for opportunities and profits she would have been able to take had the guilty party not breached the contract. This is different from the remedy of “[[Account for profit|accounting for profits]]”, which is a common law remedy for misuse of someone else’s property where the guilty party must disgorge to the owner any profits it has actually made in breach of his contractual or fiduciary duty. | ||
Latest revision as of 10:10, 5 September 2023
The remedy of special damages for loss of profits — when available, which will be hardly ever — compensates an innocent party to a contract for opportunities and profits she would have been able to take had the guilty party not breached the contract. This is different from the remedy of “accounting for profits”, which is a common law remedy for misuse of someone else’s property where the guilty party must disgorge to the owner any profits it has actually made in breach of his contractual or fiduciary duty.