benefit-of-the-bargain damages:
(1955)

1. Damages that a breaching party to a contract must pay to the aggrieved party, equal to the amounts that the aggrieved party would have received, including profits, if the contract had been fully performed. — aka loss-of-bargain damages; expectation loss. [1]

benefit of bargain rule:
(1913)

1. The principle that a party who breaches a contract must pay the aggrieved party an amount that puts that person in the same financial position that would have resulted if the contract had been fully performed.

2. The principle that a defrauded buyer may recover from the seller as damages the difference between the value of the property as a represented and the actual value received. — aka benefit-of-bargain rule. [1]

1. The rule of damages that a person who purchases in reliance upon fraudulent representations to the seller is entitled, in an action against the seller for the fraud, to recover as damages the difference between the real and the represented value of the property.  Anno. 124 ALR 34. [2]

1. The rule that a person who is induced by fraudulent misrepresentation to make a purchase is entitled to recover as damages the difference between the real value and the represented value of property. [3]

out-of-pocket rule:
(1940)

1. The principle that a defrauded buyer may recover from the seller as damages the difference between the amount paid for the property and the actual value received. [1]

1. A rule of damages for fraud in misrepresentation of value, quality, or condition of property, that the defrauded party is entitled not to the benefit of the bargain, but only to the amount that he is “out-of-pocket” by reason of the fraud, which is the difference between the real value of the misrepresented property and the amount that he paid therefor.  37 Am J2d Fraud § 355; 55 Am J1st V & P § 573. — aka out-of-pocket-loss rule. [2]

References:

Disclaimer: All material throughout this website is pertinent to people everywhere, and is being utilized in accordance with Fair Use.

[1]: Black’s Law Dictionary Deluxe Tenth Edition by Henry Campbell Black, Editor in Chief Bryan A. Garner. ISBN: 978-0-314-61300-4

[2]: Ballantine’s Law Dictionary with Pronunciations
Third Edition by James A. Ballantine (James Arthur 1871-1949).  Edited by William S. Anderson.  © 1969 by THE LAWYER’S CO-OPERATIVE PUBLISHING COMPANY.  Library of Congress Catalog Card No. 68-30931

[3]: Ballantine’s Law Dictionary Legal Assistant Edition by Jack Ballantine (James Arthur 1871-1949).  Doctored by Jack G. Handler, J.D. © 1994 Delmar by Thomson Learning.  ISBN 0-8273-4874-6.

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Disclaimer: Wild Willpower does not condone the actions of Maximilian Robespierre, however the above quote is excellent!