If there is an increase in price of petrol, there would be a movement along the demand curve and a smaller quantity would be bought.
There are two general categories of damages that may be awarded if a breach of contract claim is proved. 1. Compensatory Damages. Compensatory damages (also called âactual damagesâ) cover the loss the nonbreaching party incurred as a result of the breach of contract.
1 When compensatory damages are awarded, a court orders the person that breached the contract to pay the other person enough money to get what they were promised in the contract elsewhere. 2  For example, suppose you hire and pay someone to clean your house for $100, but he is unable to do it.