Final answer:
The term 'benefit of the bargain' refers to compensatory damages that aim to place the injured party in the position they would have been if the contract was fully performed.
Step-by-step explanation:
In the realm of legal damages, the term "benefit of the bargain" specifically relates to c) Compensatory damages. These are award amounts intended to compensate the aggrieved party for the loss suffered as a result of a breach of contract.
Essentially, benefit of the bargain damages put the injured party in the position they would have been in had the contract been fully performed as intended, thus reflecting the value of the contract as perceived at the time of the agreement.