Breach of Contract Could Cost Businesses Dearly, Impacting Consumers
The chapter examines situations where one party asks for payment because the other didn't meet their contract terms. It talks about when this is allowed and what conditions need to be met. Some places say damages can be claimed if one party didn't do what they promised, while others look at how responsible someone was. It asks if you should get compensation for things like lost profits or intangible losses. The chapter questions if a party should give back profits made from breaking a contract and if penalty clauses are fair.