No one says defaulting on a contract is pretty or that, in a perfectly functioning society, defaults would be the rule.
This article studies rules of "damage measures" that determine how much money must be paid by a party who defaults on a contract to the other party to the contract.
When the city of Springfield, Mass., defaulted on a contract to supply power to LG&E, the utility was forced to pay high spot market rates for enough power to deliver to the Oglethorpe Power Company of Georgia.
The Central Bank of Kuwait halted trading in Gulf Bank, one of the country's largest lenders, after a customer defaulted on a derivatives contract.
The ultimate issue on this appeal is the enforceability of a liquidated damages clause as a defense to a claim of restitution by purchasers in default on a land sale contract.
On Sunday, Kuwait suspended trading in shares of its second largest bank, Gulf Bank, after a customer defaulted on a derivatives contract costing the bank hundreds of millions of dollars.
Trump, who has said his criticism was directed against US policymakers, not the Mexican people or its government, stated on Thursday that Univision would be defaulting on an ironclad contract if it doesn't air the pageants.
Ketan Somaia, Dolphin's Kenyan boss and majority shareholder, it turned out, has declined to appear before Kenya's public accounts committee as part of an investigation into a company which Mr Somaia had represented as an agent and which had defaulted on an arms contract.
The California Public Utilities Commission granted a reprieve to the plant on Thursday, preventing it from going into default on its contract with Pacific Gas & Electric and Southern California Edison.
And now there are even questions about whether the developer is in default on the contract by subcontracting to another developer with political connections.
Does he default on the contract by seeking comfort in the arms of another?
