Latest Articles
Misc
January 27, 2019
Damages

Word of the day
Damages
The compensation recoverable in a lawsuit by a complainant who sustained an injury, to person or property, through the act or default of another. Determining the appropriate measure (amount) of damages for specific types of injuries is complex. In cases of fraud, courts often use the benefit-of-bargain rule, awarding as damages the cash difference between the actual value of the property and the value of the property as fraudulently represented to the buyer. In some cases, the courts apply the “out-of-pocket” rule, awarding as damages the difference, if any, between the actual value of what the plaintiff (the person seeking damages) paid (i.e., the consideration) plus any amounts expended in reliance on the fraudulent party and the actual value of what was received. Often the seller in a real estate contract retains the buyer’s deposit money as damages when the buyer decides not to perform the contract to purchase the property. Sometimes the parties agree when signing their contract that a defaulting party will pay a certain amount to liquidate or settle any damages. Damages recoverable by an owner for a lessee’s breach of contract to lease would be the excess (if any) of the agreed or contract rent, over and above the rental price the owner would be forced to accept in reletting the premises in a pressure situation. The burden of proving damages is always on the plaintiff.

Share this post:

Written by
John Reilly
Related Post

Industry, Residential Real Estate, Education
Library of Real Estate Clauses
December 16, 2018

Brokerage, Technology, Consumer News, Residential Real Estate, Education, Misc
Short Sales and Tips for Newly Licensed Real Estate Agents
December 5, 2018

Brokerage, Consumer News, Residential Real Estate, Misc
Unilateral Contract VS Bilateral Contract
November 23, 2018
https://www.realtown.com/blog/9-Good-Reasons-for-Buyers-to-Hire-a-Real-Estate-Professional-Published
https://www.realtown.com/blog/Dont-Waste-Your-Money-on-a-Website-Without-a Broader-Vision-Publishing
https://www.realtown.com/blog/Greater-El Paso-Association-of-REALTORS-with-RealTown-at-Inman-Connect
https://www.realtown.com/blog/real-estate-marketing-strategies-can-create-your-own-success-blueprint
https://www.realtown.com/blog/westport-real-estate-a-passion-for-the-positive-in-this-negative-state
https://www.realtown.com/blog/one-third-of-americans-who-sold-their-home-in-the-past-year-lost-money
https://www.realtown.com/blog/federal-way-finds-new-owners-for-bank-and-government-foreclosure-homes
https://www.realtown.com/blog/crye-leike-chooses-fidelity-national-s-transaction-management-solution
https://www.realtown.com/blog/r-e-marketing-strategies-tips-to-double-your-income-within-your-sphere
https://www.realtown.com/blog/battling-rugby-players-canadian-computer-programmers-amp-your-business
https://www.realtown.com/blog/is-buying-the-worst-house-on-the-best-street-really-the-right-approach
https://www.realtown.com/blog/how-to-use-solo-marketing-emails-to-generate-high-quality-online-leads
https://www.realtown.com/blog/the-international-brand-lays-foundation-on-cheap-timberland-work-boots
https://www.realtown.com/blog/r-e-marketing-strategies-things-you-need-to-know-to-double-your-income
https://www.realtown.com/blog/why-online-consumers-don-t-respond-to-you-and-what-you-can-do-about-it
https://www.realtown.com/blog/housing-forecast-changed-slightly-due-to-impact-from-tighter-lending--
https://www.realtown.com/blog/corcoran-consulting-announces-jetspring-as-a-premiere-service-provider
https://www.realtown.com/blog/how-to-get-more-foreclosure-cleanup-business-via-free-chamber-meetings
https://www.realtown.com/blog/online-marketing-thousands-of-agents-sell-homes-online-and-you-can-too
https://www.realtown.com/blog/smart-realtors-will-factor-in-the-advantage-of-short-driving-distances
https://www.realtown.com/blog/point-announces-eleven-new-listing-syndication-program-implementations
https://www.realtown.com/blog/redx-for-sale-by-owner-lead-generation-service-now-available-in-canada
https://www.realtown.com/blog/staying-connected-with-buyers-and-sellers-after-the-contract-is-signed
https://www.realtown.com/blog/r-e-marketing-strategies-are-you-making-these-deadly-business-mistakes

2020 Real Town The Real Estate Network