remedies for breach of contract definition
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The term damages is to be understood as Compensation. Whenever one of the party in the Contract comes across breach of Contract, the other party has some On a breach of contract by a defendant, a court a court may award money damages designed to restore •Expenses between contract and breach (recoverable): Reliance damages. •Expenses incurred to gain 71: Requirement of Exchange; Types of Exchange. 23 May 2017 How Can I Be Compensated for a Breach of Contract? In order to discourage people from breaching a contract and also to compensate the injured party for any losses, the law provides several remedies for breach of contract: damages, specific performance, contract recession, and 18 Jun 2013 The two types of compensatory damages for pecuniary loss are: Expectation Damages: in a breach of contract case, for instance, damages intended to cover what the injured party expected to receive from the contract. There are several kinds of contract remedies available to you if the other party breaches, or breaks, a contract. Types of Damages for Breach of Contract. There are four types of damages which can be claimed by the aggrieved party. Ordinary Damages or General There are two kinds of compensatory damages that the nonbreaching party may be entitled to recover: A. General Damages. General damages cover the loss directly and necessarily incurred by the breach of contract. General damages are the most common type of damages awarded for breaches of contract. Exemplary, Punitive or Vindictive damages. 4. Nominal damages. We shall now see these kinds one by one. 1. Ordinary Damages When a contract has been
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