Protecting the Benefit of a Seller's Bargain in Real Estate Contracts
29 Pages Posted: 5 Jun 2017
Date Written: 2014
Courts measure damages for breach of a real estate contract based on the difference between the contract price and the fair market value of the property at the time of the breach, which seeks to protect the injured party’s expectation interest. This measure usually provides an injured seller with an adequate remedy in the event of a buyer’s breach but “[i]n some cases, the actual loss suffered as a result of a breach exceeds the amount yielded by that formula."
Keywords: Real Estate Contracts, Measure of Damages,
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