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What are breach of contract remedies?

When a breach of contact occurs between two parties doing business together, the non-breaching party may seek remedies from the breaching party. The types of remedies awarded will depend greatly on the specifics of the contract the parties signed as well as the goods or services promised in the contract. Generally speaking, there are two different main classifications of remedies for breach of contract: remedies in law and remedies in equity.

Remedies in law typically deal with monetary damages, where the breaching party has to make a payment to the non-breaching party to satisfy a contractual requirement. Most commonly, a breaching party will be made to compensate or pay restitution to the other party for the damages associated with the breach. Sometimes, parties include clauses in their contracts that detail what will happen in the case of a breach, in which case, the breaching party will have to pay liquidated damages. Nominal damages are typically paid in the event of a breach where no party suffered any harm. However, in cases of egregious fault on the part of the breaching party, especially in cases where personal harm has occurred, the court may award punitive damages, which are meant to punish the breaching party for providing products or services that are unsafe or morally unsound.

For remedies in equity, also known as injunctive relief, the court typically orders either a cancellation of the contract or a specific performance. If a cancellation occurs, neither party is further bound by the contract. However, specific performance occurs when the court orders the breaching party to provide the goods or services as promised.

Because of the complexities involved with enforcing contracts and suing for damages, any business that has been a victim of a breach of contract should contact an attorney experienced in the area for legal advice and assistance. Sometimes, compensation can be acquired without court intervention. However, should the case need to be litigated, only an experienced business and commercial law attorney would be able to provide the necessary representation.

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