                                 CODE OF VIRGINIA

MEASUREMENT OF DAMAGES IN GENERAL (§ 59.1-508.7)

a. Except as otherwise provided in the contract, an aggrieved party may not
recover compensation for that part of a loss which could have been avoided by
taking measures reasonable under the circumstances to avoid or reduce loss. The
burden of establishing a failure of the aggrieved party to take measures
reasonable under the circumstances is on the party in breach of contract.

b. A party may not recover:

   1. consequential damages for losses resulting from the content of published
   informational content unless the agreement expressly so provides; or

   2. damages that are speculative.

c. The remedy for breach of contract for disclosure or misuse of information
that is a trade secret or in which the aggrieved party has a right of
confidentiality includes as consequential damages compensation for the benefit
obtained as a result of the breach.

d. For purposes of this chapter, market value is determined as of the date of
breach of contract and the place for performance.

e. Damages or expenses that relate to events after the date of entry of judgment
must be reduced to their present value as of that date. In this subsection,
&#8220;present value&#8221; means the amount, as of a date certain, of one or
more sums payable in the future or the value of one or more performances due in
the future, discounted to the date certain. The discount is determined by the
interest rate specified by the parties in their agreement unless that rate was
manifestly unreasonable when the agreement was entered into. Otherwise, the
discount is determined by a commercially reasonable rate that takes into account
the circumstances of each case when the agreement was entered into.

HISTORY: 2000, cc. 101, 996.