TERMIUM Plus®

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DIFFERENCE VALEUR [1 record]

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Record 1 2015-02-26

English

Subject field(s)
  • Law of Contracts (common law)
CONT

... where the plaintiff claims to be put into "the same situation... as if the contract had been performed," there are two quite distinct bases of assessment: difference in value and cost of cure. The practical difference between the two bases is strikingly illustrated by an American case in which a coal company took a mining lease of farmland, covenanting to restore the land to its original state at the end of the lease. The cost of doing the work would have been $29,000, but the result of not doing it was to reduce the value of the land by only $300. Damages for the company's failure to do the work were assessed at the latter. In English law damages for breach of a tenant's covenant to repair are by statute assessed on a "difference in value" basis.

Key term(s)
  • value difference

French

Domaine(s)
  • Droit des contrats (common law)

Spanish

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