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.
Such losses are generally not compensated by damages under contract law. However, they can be compensated if: 1  They result from physical inconvenience caused by the breach of contract. 2  The entire purpose of the contract was to provide enjoyment, a freedom from distress etc (ie, cruises and holidays).