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 ?
They fix time, but they're not pretty about it and they break a lot of eggs on the way to their omelets, whereas the Time Bureau is much more proper and they turn sharp corners and they do it without all the consequential damage to property and time, but probably also with a lot less fun.
These clauses, if drafted properly, could protect the custom-crush facility from liability for lost profits, from liability for any damage to the vintner's wine brand and from liability for consequential damages.
32) Among contemporary contract theorists, the canonical justification for limiting the recovery of consequential damages to those that are foreseeable in the ordinary course of business is an information-forcing rationale.
With no access to consequential damages, then, policyholders' best hope is to recover two-thirds of what was originally owed to them, probably after years of delay and uncertainty.
As to the merits, we are unpersuaded by defendant's argument that plaintiffs' claims for consequential damages, replacement cost damages for personal property, damages to the residence, and additional living costs should be dismissed because they failed to comply with defendant's discovery demands and with a November 24, 2010 discovery order issued by Supreme Court.
3M is seeking compensatory and consequential damages, the return of all legal fees it paid to Covington over the past two decades and an injunction to keep the firm from "further jeopardizing 3M's confidential information.
According to the Court of Appeals of Ohio, in a partial takings case there is no right to consequential damages to the land not taken for lack of access to a new limited access highway built where no road existed before.
Consequential damages (such as increased financing costs) generally impact an owner more than a contractor, so owners think twice before waiving them.
The claimed lost profits can be general damages (the profits the party would have made in the performance of the breached contract), (4) consequential damages (the profits the party would have made on other collateral agreements had the breached contract been fully performed), (5) or a combination of both.
Most manufacturing contracts require the outsourced product to comply with the original equipment manufacturer's specifications, and even if the contract disclaims indirect or consequential damages, the component manufacturer may still be liable for economic losses associated with its defective manufacturing.
Consequential damages of nuclear war; the Rongelap report.