Definition from Nolo’s Plain-English Law Dictionary
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.
Definition provided by Nolo’s Plain-English Law Dictionary.
August 19, 2010, 5:13 pm