Question

1) a.what is the objective of expectation damages b.what is the economic meaning of reliance damages...

1)

a.what is the objective of expectation damages

b.what is the economic meaning of reliance damages

c. what is the economic purpose of levying of punitive damages

2

a distinguish between misfeasance and malfeasance

b. explain what distinguishes a legallty enforceable promise from an unenforceable promise

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Answer #1
  1. What is the objective of expectation damages?

The purpose of expectation damages is to put the party which is adversely affected in a position had the contract been fulfilled. The purpose is to make sure the aggrieved party does not suffer any damages.

2. What is the economic meaning of reliance damages

Reliance damages are losses suffered due to reliance on a contract. The damages will put the party in the position prior to reasonable reliance on the contract.

3. What is the economic purpose of levying of punitive damages

    Punitive damages is a punishment levied on the breaching party for   

    losses    caused. It is awarded by a court of law.

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