Nashville, TN – Damages are the most significant reason that anyone brings a civil lawsuit, as there needs to be payment for losses caused by the defendant’s behavior. In the business world, there are certain types of damages that are linked to lawsuits for things like breach of contract, lost profits, and property disputes. As a general rule, the more significant the losses the company can show, the larger the damage award that they are likely to receive through a settlement agreement or jury verdict.
Differences in value
There have been cases in Tennessee for fraudulent misrepresentation where the plaintiff was awarded the difference between the actual value of any property or item received versus the value guaranteed in a contract or agreement. This is a way of putting the plaintiff in the place that they would have held financially if the deal had been completed without issue. Sometimes this rule is called the benefit of the bargain.
Traditional tort law damages
When a business files a negligence lawsuit for a breach of the relevant standard of care, the defendant will have to pay for all losses caused by their negligent behavior. This can include things like costs of property repairs, and various other financial problems caused by the negligent defendant. Tort law damages can essentially become a summary of all relevant losses, and punitive damages may possibly be awarded as well if the defendant engaged in malicious or reckless conduct.
Compensation for breach of contract
If one party breaches a contract, they may owe compensatory damages to the plaintiff. This will include all actual losses that the business sustained and can prove as a result of the breach including things like lost profits and additional expenses due to a botched deal. Things like additional hiring costs and projected lost future earnings can be factored into a summary of compensatory damages as well.
Injunctions and equitable remedies
In rare cases, a court may force the defendant to do or complete something as a remedy for the lawsuit, rather than just award compensation. This happens with some pieces of property that are considered unique, where specific performance is necessary if the real property cannot easily be replaced. The plaintiff will need to make a specific showing that monetary damages are an inadequate remedy based on the unique nature of the transaction.
Help from a local business attorney in Tennessee
The Law Office of George R. Fusner is available to assist people in the Nashville area with various business law matters. Clients can receive advice about matters such as contract law, real estate, and misrepresentation.
Firm contact info:
7104 Peach Court, Brentwood TN 37027