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Reliance damages
| Judicial remedies |
|---|
| Legal remedies (Damages) |
| Equitable remedies |
| Related issues |
Reliance damages is the measure of compensation given to a person who suffered an economic harm for acting in reliance on a party who failed to fulfill their obligation.[1] If the injured party could go back in time, they should be indifferent to entering into the contract that would be breached and receiving the reliance damages as opposed to not entering into any contract with the breaching party.[2] The injured party should be put in a substantially similar situation position as they would have been had the contract not been entered into.[2] This is different from expectation damages, where the injured party should be indifferent between the fulfillment of the contract and never having entered into the contract.[2]
- ^ McRae v Commonwealth Disposals Commission [1951] HCA 79, (1951) 84 CLR 377, High Court (Australia).
- ^ a b c Cite error: The named reference
:0was invoked but never defined (see the help page).
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