Melbourne Law School - Theses

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    Liability for profits in breach of contract
    Collins, Paul Anthony ( 2015)
    Accounting for a profit in breach of contract is directed to the purpose of contractual damages. The purpose of contractual damages is to obtain performance of the parties’ obligations and is reflected in the awards that the courts make. This means that remedies for breach of contract are broader than mere compensation. Yet in many cases the courts strain logic by attempting to equate a gain with a loss under the rubric of compensation. A fresh approach that is attracting judicial support is to recognise that the performance interest forms the essence of contractual damages. Once this is recognised, there should be an open acceptance of compensation for loss and accounting for gain. The reach of accounting for profit is comprehensively defined by the performance interest and only operates once compensatory damages are inadequate. This standard can form part of the law of Australia as it can in England.