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Commercial Law Keyed to Lopucki
C.I.C. Corp. v. Ragtime, Inc
Facts
Petitioner leased several coin-operated machines to Respondents. As part of the deal, Petitioner loaned Respondents $3,500 by way of an advance on their portion of future revenues at ten percent interest. Within a month, Respondents repaid the loan and the machines were removed. At trial Respondents argued that Petitioner was required to mitigate damages and failed to do so. Petitioner argued that it was not required to mitigate damages. No jury instruction was given on mitigation, however, the court did advise the jury that in fixing damages it could consider what Petitioner did or should have done to “mitigate or lessen damages.”
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