{"id":10963,"date":"2017-12-16T17:53:43","date_gmt":"2017-12-16T17:53:43","guid":{"rendered":"https:\/\/reunitethestates.org\/?page_id=10963"},"modified":"2017-12-16T18:02:48","modified_gmt":"2017-12-16T18:02:48","slug":"rescissory-damages-awarded-to-restore-a-plaintiff-to-the-position-occupied-before-the-defendants-wrongful-acts","status":"publish","type":"page","link":"https:\/\/reunitethestates.org\/?page_id=10963","title":{"rendered":"Rescissory Damages – used primarily when the defendant\u2019s fiduciaries unjustly enriched themselves by exercising their fiduciary authority deliberately to extract a personal financial benefit at the expense of the corporation’s shareholders; the amount of damages measured by the fair value of the stock at the time of judgment, awarded to restore a plaintiff(s) to the position occupied before the defendant\u2019s wrongful acts, including either returning the property to the original owner or if that is not possible then to pay the monetary value of the property to the owner"},"content":{"rendered":"

rescissory damages<\/span>:<\/strong><\/span>
\n(1974)<\/span><\/p>\n

1. Damages awarded to restore a plaintiff to the position occupied before the defendant\u2019s wrongful acts.<\/strong> [1]<\/span><\/p>\n

1. Damages measured by the fair value of the stock at the time of judgment.\u00a0 It is awarded to restore a plaintiff to the position occupied before the defendant\u2019s wrongful acts.\u00a0 Recissory damages award includes either returning the property to the original owner or if that is not possible then to pay the monetary value of the property to the owner.\u00a0 Rescissory damages are most appropriate where it is shown that defendant\u2019s fiduciaries unjustly enriched themselves by exercising their fiduciary authority deliberately to extract a personal financial benefit at the expense of the corporation’s shareholders. Hence, rescissory damages may only be considered if they are susceptible of proof and a remedy appropriate to all the issues of fairness.<\/strong> [2]<\/span><\/p>\n

References:<\/span><\/span><\/strong><\/p>\n

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[1]: Black\u2019s Law <\/a><\/span><\/strong>Dictionary\u00a0<\/b><\/span><\/a><\/strong>Deluxe<\/b><\/span><\/a><\/em> Tenth<\/b><\/span><\/a><\/em> Edition<\/b><\/span><\/a><\/em>\u00a0<\/span><\/strong>by<\/b><\/span><\/strong> Henry Campbell Black, Editor in Chief Bryan A. Garner. ISBN: 978-0-314-61300-4<\/span><\/strong><\/p>\n

[2]: USlegal, “Rescissory Damages Law and Legal Definition”<\/em>:\u00a0 <\/span><\/strong>https:\/\/definitions.uslegal.com\/r\/rescissory-damages\/<\/span><\/strong><\/a><\/p>\n

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