What is the test for estimating damages in an action for breach of an engagement to replace stock?
Saskatchewan, Canada
The following excerpt is from MacDonald v. Hauer, 1973 CanLII 901 (SK QB):
In Shepherd v. Johnson (1802), 2 East. 211, 102 E.R. 349, it was held that in estimating the measure of damages in an action for breach of an engagement to replace stock on a given day, it is not enough to take the value of the stock on that day if it has risen in the meantime, but the highest value as it stood at the time of the trial, there being no offer of the defendant to replace it in the intermediate time while the market was rising. The true measure of damages in all these cases is that which will completely indemnify the plaintiff for the breach of the engagement.
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