Damages that compensate the nonbreaching party for the loss of a bargain are known as consequential damages.

Name: Damages that compensate the nonbreaching party for the loss of a bargain are known as consequential damages.
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Consequential damages are a type of compensation for losses that result indirectly from a breach of contract, while damages that compensate for the loss of a bargain are typically referred to as compensatory or expectation damages.

Damages That Compensate the Nonbreaching Party for the Loss of a Bargain