Lost profits may be either general or consequential damages, depending on whether the non-breaching party bargained for the profits and they are the direct and immediate fruits of the contract at issue. Lost profits qualify as general or direct damages when they are the natural and probable consequence of the breach. Lost profits are consequential damages when, as a result of the breach, the non-breaching party suffers loss of profits on collateral business arrangements.
MUFG Union Bank, N.A. v. Axos Bank, NY Slip Op 04414 (1st Dep't July 15, 2021)
