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Is this a promise, or a contract? It seems that if they want to renege on a contract that they ought to refund the entire amount.
by brokentone 14y ago
Is this a promise, or a contract? It seems that if they want to renege on a contract that they ought to refund the entire amount.
- colinshark 14y agoIt's pretty easy for a promise + money exchanged to become a contract.
- pmb 14y agoWe had all of: offer, acceptance, consideration, meeting of the minds, capacity, and legality. It sure felt like a contract to me.
- weel 14y agoYup. Now as for damages, though, even though indeed they are supposed to cover your lost value and not the original price, the original price is going to set a point of reference that will influence how much you could reasonably convince any judge your lost value is. But say we compute it another way. Suppose you can buy equivalent service from Amazon for $100 a year forever. The net present value of that perpetuity at a 10% interest rate is $1000. You can easily see why if you imagine investing the $1000 at the 10% interest rate and using the interest each year to buy hosting: your principal would stay at $1000 forever. Now plug in numbers you actually think are feasible. And subtract attorney's fees. Good luck.
- bradleyjg 14y agoContract damages aren't the price paid, they are the value received had the contract been honored. In this case that's probably considerably more.
- jacques_chester 14y agoThe customers don't want a refund (damages). They want "specific performance" -- ie that Joyent uphold their end of the bargain: lifetime service. (IANAL, TINLA).