Account for profit: Difference between revisions
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What an [[agent]] must do if it | What an [[agent]] must do if it profits (without permission) with its [[principal]]’s property; what a thief (or breacher of [[copyright]]) must do to its victim with the ill-gotten gains of its misfeasance. Importantly, ''not'' what a [[breach of contract|breacher of contract]] must do to an innocent [[counterparty]]: there the measure of compensation is the innocent party’s loss. | ||
[[Account for profits]] is a common-law remedy for misuse of another’s property. It is not a remedy for [[breach of contract]]. | |||
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Revision as of 11:05, 15 May 2019
What an agent must do if it profits (without permission) with its principal’s property; what a thief (or breacher of copyright) must do to its victim with the ill-gotten gains of its misfeasance. Importantly, not what a breacher of contract must do to an innocent counterparty: there the measure of compensation is the innocent party’s loss.
Account for profits is a common-law remedy for misuse of another’s property. It is not a remedy for breach of contract.