cost of completion

cost of completion
n.
In a breach of contract action, a measure of damages calculated by the amount it would cost to pay for a performance that would put the plaintiff where he or she would have been had the contract not been breached.

The Essential Law Dictionary. — Sphinx Publishing, An imprint of Sourcebooks, Inc. . 2008.


cost of completion
The amount of money damages that will be awarded when a contract has been breached by the failure to perform; the cost will reflect the amount of money required to finish the job. For example, when a general contractor breaches a contract by not completing a house, the cost of completion is the actual cost of bringing in a new builder to complete the construction.
Category: Representing Yourself in Court
Category: Small Claims Court & Lawsuits

Nolo’s Plain-English Law Dictionary. . 2009.


cost of completion
n. A measure of damages in a breach of contract action representing the expense incurred by the nonbreaching party to complete the breaching party's promised performance or to have the performance finished by a third party.

Webster's New World Law Dictionary. . 2000.

cost of completion
n.
   the amount of money (damages) required to complete performance (finish the job) when a contract has been breached by the failure to perform. Example: when a general contractor breaches by not completing a house, the cost of completion is the actual cost of bringing in a new builder to finish what is left to do. The actual costs become the measure of damages rather than an estimate of cost based on percentage of work to be done.

Law dictionary. . 2013.

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