Page 59 - Acertaining Economic Damages Calculation

While the damages may not be determined by mere speculation or guess, it is enough if the evi-
dence shows the extent of the damages as a matter of just and reasonable inference, although the
result be only approximate.

However, the plaintiff must establish his damage by the most accurate basis possible under the
circumstances. He must produce the best evidence reasonably obtainable. fn 2

There are hundreds of case opinions in which references to best evidence are made by plaintiffs (who
claim that they are using the best evidence to support their claim for damages), defendants (who assert
that the plaintiff has ignored the best evidence, making their damage claims inadmissible), and judges
(who weigh in and decide whether or not the parties have relied upon the best evidence in their effort to
establish damages with reasonable certainty), including the following examples:

Mid-America Tablewares, Inc. v. Mogi Trading Co., Ltd., 100 F.3d 1353, 1365 (7th Cir. 1996) (empha-
sis added)

Where the defendant's wrong has caused the difficulty of proof of damages, he cannot complain
of the resulting uncertainty and if the best evidence of the damage of which the situation admits
is furnished, this is sufficient. Charles T. McCormick, McCormick Handbook on Damages § 27
at 101.

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Alaska Pulp Corp., Inc. v. United States, 59 Fed. Cl. 400, 418 (Ct. Fed. Cl. 2004) (emphasis added)

The best evidence we have to go on are Plaintiff's own contemporaneous assessments of TTRA's
impact.

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Adell v. John Richards Homes Bldg. Co., L.L.C. (In re John Richards Homes Building Co., L.L.C.), 439
F.3d 248, 263 (6th Cir. 2006) (emphasis added)

[Expert] testified that given JRH's recent creation, the best evidence of its future profits was the
past profits of the Affiliates, whose business it was taking over.

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Bessemer Trust Co., N.A. v. Branin, 544 F. Supp. 2d 385, 391 (SDNY 2008) (emphasis added)

Since an arms-length transaction is the best evidence of fair market value... the Court finds that
the actual purchase price is the most appropriate reflection of Brundage’s value.

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fn 2 Sunward Corp.; 811 F.2d at 541, quoting Hoffer Oil Corp. v. Carpenter, 34 F.2d 589, 592 (10th Cir. 1929), cert. denied, 280 U.S.
608 (1930) (emphasis added).

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