consequential damages


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consequential damages

(1) Damages that do not flow directly from some wrong, injury, or taking. A buyer who refuses to proceed to closing for no legal reason may be liable for the seller's directdamages of the difference between the agreed-upon purchase price and the price ultimately obtained for the property, or the interest on the money if the sums are identical, plus any additional costs of marketing.The buyer might also be liable for the seller's consequential damages consisting of its loss of earnest money on another property,but only if the buyer knew the seller was depending on the closing to fund money for the seller's new home.(2) In a condemnation award,consequential damages are those suffered when the remaining property is injured because of the loss of the condemned property.A farmer's fields may be too small for efficient cultivation by large machinery after the county condemns enough land for roads to cross through the fields. A storekeeper's business may suffer as a consequence of its parking lot being taken for construction of a fire station.

References in periodicals archive ?
does not authorize recovery of consequential damages to other property attributable to the consumer's use of such [received] goods or services.
He sued the defendant for both the tax amount and consequential damages of the business bankruptcy.
In this context, the term "damages" includes compensatory and consequential damages for which the insured is held responsible under a contract or agreement.
The court of appeal determined that the proper method of measuring damages for wrongful Filing of a lis pendens is the difference between fair market value at the time of filing and at the time of termination, plus consequential damages including attorney's fees.
Consequential damages are one step removed and include what the owner should have reasonably been able to expect had the contractor lived up to the terms of the contract.
These would include indirect or consequential damages.
5 million to a plaintiff company, $1 million for consequential damages and the other $500,000 for the cost the plaintiff paid for the faulty system.
Other limiting terms expressly exclude liability for any lost profits, consequential damages or any claim or demand against the client by any other party.
ceding owner authority to the architect, paying for the cost of work without a guaranteed maximum price, waiver of consequential damages for contractor delay, etc.
Landowners whose property was declared blighted but never formally condemned can recover consequential damages if the city unduly delayed condemnation proceedings or engaged in untoward activity, according to the Supreme Court of Missouri.
A "time is of the essence clause"-In contracts where the liquidated damages clause is invalid, the courts will allow an owner to invoke this clause to recover damages, provided the property owner can demonstrate an accurate calculation of consequential damages.
The family sued Finkle for its lost investments and consequential damages.