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"The middlemans damages revisited" [2019] ELECD 2884; in Goldberg, P. Victor (ed), "Rethinking the Law of Contract Damages" (Edward Elgar Publishing, 2019) 100

Book Title: Rethinking the Law of Contract Damages

Editor(s): Goldberg, P. Victor

Publisher: Edward Elgar Publishing

Section: Chapter 6

Section Title: The middlemans damages revisited

Number of pages: 23

Abstract/Description:

If A promises to sell to B who, in turn, promises to sell to C and either A or C breaches should B receive the gain it expected had both transactions occurred (lost profits) or the larger market/contract differential? Recent case law and commentary argues for the lost profit remedy. The argument is that there is a conflict between awarding market damages and making the nonbreacher whole. This chapter argues that there is no conflict. If B were a broker, and C breached, then A would have an action against C for market damages. If B were party to the two related contracts A should also be liable for market damages. By being a party to the two contracts, B has taken on counterparty risk. This chapter provides a detailed critique of the case law.


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