Mitigation

Question 1

What was held in Banco de Portugal v Waterlow, and Payzu v Saunders?

Answer 1

A party can can only recover for losses to the extent that s/he has taken reasonable steps to mitigate these losses

Question 2

Other remedies - Specific Performance and Injunctions

Answer 2

These remedies were developed by the equity jurisdiction.

Question 3

What are the usable equitable maxims in which are relevant?

Answer 3

• Specific performance is an order compelling a party to do something, like perform their side of the contract.
• An injunction is a negative obligation in that it stops a party doing something.

Question 4

What are damages seen as?

Answer 4

• adequate remedy but a common example of damages being inadequate would be where there is a contract for sale of something unique like a piece of art.