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Legalease
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In a ruling by Delaware Supreme Court they said defendant is

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In a ruling by Delaware Supreme Court they said defendant is liable only for lost expectancy in a contract dispute. I don't quite understand that legal phrase. Can you clarify it in lay language. Thank you
Submitted: 1 year ago.
Category: Business Law
Expert:  Legalease replied 1 year ago.

Hello there

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Lost expectancy in a contract case means the portion of the contract that the aggrieved party was entitled to receive in the event that the entire contract had been completed as required by the terms of the contract. For example - two parties enter into a construction contract and the contract amount was 12K. One party cancelled the contract on the contractor and he was only paid 8K. The contractor's lost expectancy is the 4K that he expected to receive and never received as a result of the breach of contract by the other party.

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MARY

Legalease, Attorney
Category: Business Law
Satisfied Customers: 14619
Experience: 14 years experience corps, LLC's and partnerships; preparation, negotiation of complex contracts and business agreements
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