The Major Reybold v. The Telegraph
The Major Reybold v. The Telegraph
Opinion of the Court
In this case the only point of exception is to the rate of $30 per day allowed by this commissioner for demurrage. The objection to this allowance, as it has been stated in argument, is, that the commissioner has adopted a speculative profit which might have been earned by the vessel as the standard or measure
Under the Roman law and under the common law, the theoretical measure of the damage of an injured party has never been less than the amount in money that will afford him indemnity. From considerations of general convenience or of the importance of uniformity in the application of specific values the practical measure may sometimes differ from the theoretical standard. The present is not such a case. The case is within a familiar rule that the amount of damage may be determined either by the value of an existing thing which has been taken from the party damnified, or by that of such certain profit as he might have made if the injury had not been sustained. The loss of a speculative profit is not recoverable. But a compensation for the hire of a ship or of a carriage is not a speculative profit. It is determinable by the usual market rate of such hire at the time in question.
Since the report of the commissioner was filed the deposition of Mr. Souder on behalf of the party in whose favor the report was made has been taken. I do not think that it strengthens the case already presented on behalf of this party. I think that it was made out by the previous testimony sufficiently to sustain the report. That testimony sufficiently
The report is confirmed in all respects, and the decree will be entered accordingly.
Reference
- Full Case Name
- THE MAJOR REYBOLD v. THE TELEGRAPH
- Status
- Published