§ 19-29 Contract - Damages - Lost Profits

• Library: South Carolina Requests to Charge - Civil (SCBar) (2016 Ed.)

§ 19-29 Contract - Damages - Lost Profits

"Profits" have been defined as the net pecuniary gain from a transaction, the gross pecuniary gains diminished by the cost of obtaining them. "Profits" are the net of income over expenditures during a given period. "Profits" refers to the gross proceeds of a business transaction less the costs of the transaction.

Lost profits are recoverable in an action for breach of contract. First, the profits must have been prevented or lost as a natural consequence of the breach of contract. Second, lost profits must reasonably be supposed to have been within the contemplation of the parties at the time the contract was made as a probable result of a breach of the contract.

When lost profits are contemplated as a measure of damages for breach of contract, they...