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Time-honored principles, long regarded as rules, e.g. ‘new for old’ compensation, have been radically altered. Courts have moved from applying broad principles to making judgments based on the precise facts in front of them – known as the ‘fact-specific’ approach. In some cases the same set of facts can now be argued either on the basis of contract or of tort – which way you go is a crucial question of tactics. This valuable report includes accounts of all the most recent important cases and highlights significant changes in the way that the courts now assess damages. It sets out a systematic approach for assessing the remedies available for various types of breach of contract, what the remedies mean in terms of compensation and how the compensation is calculated. It also examines recent case law as well as classic earlier cases and explores the issues involved; in particular the defenses. The report provides numerous examples of effective drafting of terms controlling and limiting remedies – as well as illustrating the type of poor drafting to be avoided. It also includes helpful tables, figures and calculations and a search analysis of the mathematical and financial implications of awarded damages.