What are remedies of breach of contract?

What are remedies of breach of contract?

Remedies for Breach of Contract

• 1] Recession of Contract. When one of the parties to a contract does not fulfil his obligations, then the other party can rescind the contract and refuse the performance of his obligations.
• 2] Sue for Damages.
• 3] Sue for Specific Performance.
• 4] Injunction.
• 5] Quantum Meruit.

What are the two types of remedies a court can provide?

There are two general categories of remedies—legal and equitable.

What are the two types of breaches of contract?

Further, a breach of contract generally falls under one of two categories: an “actual breach”—when one party refuses to fully perform the terms of the contract—or an “anticipatory breach”—when a party states in advance that they will not be delivering on the terms of the contract.

What does remedies mean in a contract?

remedy. n. the means to achieve justice in any matter in which legal rights are involved. Remedies may be ordered by the court, granted by judgment after trial or hearing, by agreement (settlement) between the person claiming harm and the person he/she believes has caused it, and by the automatic operation of law.

What are the remedies available?

The remedies available for a contract breach include:

• Monetary damages. The party who breached the contract can be held responsible for the losses caused by the breach.
• Specific performance.
• Rescission.
• Liquidation damages.

What are the remedies for tort?

There are three basic types of remedies in tort law: Legal Remedies (“damages”), Restitutionary Remedies, and Equitable Remedies.

What are the remedies for breach of contract provided in Indian contract Act?

Essentially there are three kinds of remedies upon breach of contract, namely, Damages, Specific Performance and Injunction. The availability of all of these remedies is subjective; however.

What are the possible remedies?

Categorized according to their purpose, the four basic types of judicial remedies are (1) damages; (2) restitution; (3) coercive remedies; and (4) declaratory remedies. The remedy of damages is generally intended to compensate the injured party for any harm he or she has suffered.

How many types of judicial remedies are there in case of tort?

Judicial remedies are of three main types: Damages. Injunction. Specific Restitution of Property.

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