I need an explanation for this Business Law question to help me study.
1. Review the Critical Legal Thinking Case 18.4 on page 324. It is entitled Tri-State Petroleum v. Saber Energy, Inc. Tri-State admitted its breach but claimed that lost profits are an inappropriate measure of damages. Using IRAC, who wins?
2. Review the Critical Legal Thinking Case on Liquidated Damages on page 260 of the textbook. The case is entitled Uzan v. 845 UN Limited Partnership. You do not need to write in IRAC for these questions. How do liquidated damages differ from actual damages? Do liquidated damages serve an important business purpose?
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