Narrate the rules regarding the determination of amount of damages for breach of contract.
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Expert's answer
2014-12-24T06:14:16-0500
Remedies for breach of contract and the type and amount of damages are amongthe more complex areas of English law – making the wrong move or decision, where you are the innocent victim of a breach by the other party, can result in your position being hugely prejudiced and possibly even mean that you end up in breach and owing the other party ! Considering this at an early stage when thecontract is being drafted as well as urgently following a breach of contract, could save your business from making a costly mistake. It is essential to take steps prior to the signing of the contract to ensure you have considered what your remedy will be in the event of a breach. You will need to estimate your likely losses and ensure the contract protects your position as much as possible.
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