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SIGA Technologies, Inc. Message Board

  • briedwards123 briedwards123 May 28, 2013 4:31 PM Flag

    Type II Agreement Equals Reiance Damages (The Way I Read it) !

    A Type II agreement “does not guarantee” the parties will reach agreement on a final
    contract because of “good faith differences in the negotiation of the open issues” may preclude
    final agreement. Id. A Type II agreement “does, however, bar a party from renouncing the deal,
    abandoning the negotiations, or insisting on conditions that do not conform to the preliminary
    agreement.” Id.

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    • We (DSC) now hold hold that where the parties have a Type II preliminary agreement to negotiate in
      good faith, and the trial judge makes a factual finding, supported by the record, that
      the parties would have reached an agreement but for the defendant’s bad faith
      negotiations, the plaintiff is entitled to recover contract expectation damages.99 (footnote99)"

      "99 An expectation damages award presupposes that the plaintiff can prove damages with
      reasonable certainty. Callahan v. Rafail, 2001 WL 283012, at *1 (Del. Super. Mar. 16, 2001)
      (citation omitted) (“It is well-settled law that ‘a recovery for lost profits will be allowed only if
      their loss is capable of being proved, with a reasonable degree of certainty. No recovery can be
      had for loss of profits which are determined to be uncertain, contingent, conjectural, or
      speculative.’”).

 
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