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2 Function, Role, and Importance of Damages Law

From: Damages in International Arbitration under Complex Long-term Contracts

Herfried Wöss, Adriana San Román Rivera, Pablo T Spiller, Santiago Dellepiane

From: Oxford Legal Research Library (http://olrl.ouplaw.com). (c) Oxford University Press, 2022. All Rights Reserved.date: 26 June 2022

Subject(s):
Burden of proof — Damages — Tort — Due process — Compensation
2.01 The principal function of damages law, which is confirmed by the different rules of law on damages including international law, is the compensation of the loss caused by a breach of contract or an illegal measure affecting a complex long-term contract. The payment of an amount of money should place the injured party in the financial position he would be in if the damaging act had not occurred; that is, to wipe out all the consequences of the breach. This rule can be regarded as a general principle of law.1 2.02 The compensation function of damages law has its...
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