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.
Damages which are speculative, remote, imaginary, contingent, or merely possible cannot serve as a legal basis for recovery.[iv] Damages will not be awarded for the mental distress or emotional trauma that may be caused by a breach of contract.