Consequential Damages
noun
Damages that arise when a party to a contract fails to hold up their duties under their contract, and the other party is damaged as a result.
Claimants need to prove reasonable certainty to recover consequential damages. For property owners, damages could include loss of use of the building, lost profits, or increase in financing costs.
On the other hand, consequential damages for contractors could consist of lost opportunities, lost profits, or damages to their business reputation.
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