Fairer Contracts: New Damages and Interest Rules Empower Consumers
The article discusses ways to compensate people when contracts are broken. It explains that canceling a contract or lowering the price might not cover all the losses. So, there need to be other ways to help. They suggest using damages and interest as a solution. Damages are payments when someone doesn't fulfill their contract duties. Interest can be added on top of damages to make up for lost time and money. These rules are outlined in Chapter 16 of the CESL, which is like a collection of lessons from different laws. The article focuses on explaining how damages and interest work to make up for contract breaches.