Warning
Info
- - tl;dr
- - ICRA
- - Facts & Holding
- - DeepDive
0 0
New Jersey Superior Court, Appellate Division - 36 N.J.Super. 128, 36 N.J. Super. 128
Tags: Lost Volume Profits, Mitigation
tl;dr:
Lessor is only entitled to lost volume profits if they suffered an actual loss in profits due to lessee's breach on jukebox contract.Video Summary
Case Summary
In Locks v. Wade (1955), a New Jersey appellate court resolved a contract disagreement between a jukebox owner (Locks) and a renter (Wade). The case was an appeal from a lower court's decision. Locks agreed to lease a jukebox to Wade, with a minimum weekly payment. However, Wade backed out of the contract and Locks rented the jukebox to others.
Locks (the owner) sued Wade (the renter) for violating the contract and sought damages, while Wade countersued for unpaid bills. The trial court ruled in favor of Locks (the owner), granting damages minus depreciation and Locks' expenses. Wade appealed, claiming the jukebox's rent should reduce the damages and a liquidated damages clause should prevent Locks' recovery.
The appellate court upheld the trial court's decision, stating the correct measure of damages was the difference between the contract price and performance cost since jukeboxes were not in short supply and therefore Locks (the owner) could have rented to Wade and the other renter.
This case is significant for showcasing the principle of damages related to contract breaches and personal property leases. It also demonstrates how courts interpret contract provisions such as limitation of damages and liquidated damages clauses.
DeepDiveHighlight a legal term to see the definition
The case involves a dispute over damages in a breach of contract case for a lease agreement. The court holds that the lessor is entitled to recover the difference between the contract price and the cost of performing the first contract, rejecting the defendant's theory that limits damages to only the rental agreed under the first lease. The court cites Restatement of Contracts § 336(c) and Illustrations 6 and 7, and 5 Corbin, Contracts, § 1041 (1951) to support its decision. The court also discusses a liquidated damages clause in a lease agreement for the sale of goods, finding that it does not prevent the plaintiff from recovering damages for a breach before the machine was installed. The court affirms the decision and notes that the law may be governed by statutory law or precedent, but the focus is on the present situation.
LSD+ Case Briefs
Features
- DeepDive for detailed case analysis
- Over 50,000 existing case briefs
- Instant briefs for another 6,000,000 cases
- Highlight dictionary for legal term definitions
- Social learning with chat and high points
Over 50,000 Cases Briefed
LSD+ gives you access to over 50,000 case briefs, more than anyone else. Be the first to email us the website of a case brief product that offers you more case briefs and we'll give you a free year of LSD+.
14-Day Free Trial
Unlimited access. Read as much content as you want during your trial with no device limitations. Cancel any time during your trial and keep access for the full 14 days.
Integrated Legal Dictionary
Lawyers and judges love to use big words. And Latin, for some reason.
Highlight a legal term in LSD Briefs and get an instant, plain English definition. Try highlighting contract or specific performance. No need to search or read through a list of definitions, simply highlight the words you don’t know and our LSDefine integration will instantly give you a definition to any of over 30,000 legal terms.
DeepDive
DeepDive allows you to explore legal cases like never before. DeepDive offers multiple levels of case summaries, which empowers you to quickly and easily find the information you need to stay on top of readings. Easily navigate through summary levels and click on any text to get more detail, all the way down to the original legal case text.
Brief anything. Instantly.
Our proprietary state-of-the-art system can instantly brief over 6,000,000 US cases. That means we can probably brief that case that your professor assigned last night when she sent you a poorly scanned pdf and told you to read every third paragraph. Or maybe she uploaded it to Canvas and didn’t really tell you to read it, but you know you probably should. Tenure does wild things to good people.
Social Learning with Chat and High Points
Study groups are a great way to learn and explore a case. LSD has chat rooms for each case to let you ask questions across the community and hear what other students struggled with and how they put it all together. Learn the key points of every case from other LSD+ users and share your knowledge with LSD High Points.
Real-Time Brief Feedback
Don’t settle for mistakes in briefs that have been there for 10 years and never fixed. Find an issue or something missing from a brief? Down vote and we will make improvements. All of our case brief editors graduated from from T14 law schools.