When may a counterfactual become too hypothetical?

The case of Galtrade Limited v BP Oil International Limited[1] (Adrian Beltrami QC, sitting as a Judge of the High Court) is notable for revisiting discussion of the proper classification of a contractual guarantee, for considering the proper assessment of damages for reliance loss (being loss incurred for acting in reliance upon other party's contractual obligations), and for highlighting familiar difficulties in scoping the appropriate counterfactual question in a claim made for wasted expenditure, when taking account of whether mitigating steps were taken by an innocent party in anticipation of contractual breach.

You can read Juan Lopez's full post on our Commercial, Construction & International Arbitration Blog here.