"She would have been there."

                                                   "She would have been there."

This sentence has two possible meanings to native English speakers?

If you do not mind, could you tell me how you feel about the sentence? 

A: I didn't see Jess at the party last night.

B: Really? She would have been there.

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A: Jess stayed at home yesterday.

B: If Tom had allowed her to go to the party, she would have been there.

Although the shape of the sentence is the same, I think the intended meaning is totally different. What do you experts think and feel about it? If you are too busy or tired, please just say "yes" or "no" . Thank you so much in advance,