There are several:
1. Recission, where the contract is cancelled, both parties excused, and any advance payments are returned,
2. Reformation, where the contract is altered to reflect what was actually intended,
3. Specific performance, where the court orders that the exact terms of the contract are executed,
4. Compensatory damages, to cover losses incurred as a result of non-performance,
5, Consequential and incidental damages, to cover "forseeable losses" as a result of the breach
6. Punative damages, to punish a person for willfull breach
7. Liquidated damages, those specified in the contract if the terms are not met.
The law only recognised DAMAGE as a remedy , it can not offer rectification and others equitable remedies DAMAGE is offer at law in the sense to help compensate the party that suffer loses due to the breach of contract . However it was somehow inadequate thus Equitable remedies were introduced this were Legal principles which were added to common law mainly to address the issue of contract law . Equity mean (fairness) . Some of it's remedies in the breach of contract are , Specific performance >To compel the defendant to perform his contractual part , Unjust enrichment > To compel the defendant to surrender or to pay an equal amount of money as far as his unlawful earning in the expanses of the claimant . However equity can offer DAMAGE too .
The most common remedy for a contract breach is damages, which is a substitutionary remedy and a remedy at law. Damages usually take the form of money paid by the obligor to the obligee to make the obligee whole, in consequence of the harm incurred as a result of the breach.
There are some situations where substitutionary remedies, that is, remedies at law, are legally inadequate or where the harm is otherwise irreparable. In such situations, equitable remedies may be sought. One example of an equitable remedy is specific performance, which is applied in the form of an order from the court ordering performance of the contract. An example is in the case of a contract for real property, since real property is conclusively presumed unique, and thus the only way to make the party against whom the breach is made whole is for that party to receive the benefit he has bargained for, in this case, the real property.
There are several types of remedies, part of it will depend upon the countract itself.
Typically the law will attempt to put both parties at the place they started at, if possible.
The law will avoid enriching one party at the expense of the other.
The law may compel one party to fulfill their part of the agreement.
You can demand satisfaction and then go into legal actions.
You can sue the other party. It would be a civil case for breach of contract.
Compensatory damages
A breach of contract does not void the entire contract. It can still be enforced.
Not every breach allows a contract to be cancelled. It has to be a material breach.
Discharged mean terminated. A contract can be discharged by -performance -frustration -Agreement between the parties and -breach If there is a breach of terms of the contract, a contract can be discharged.
breach is a form of discharge. Generally, a discharge is when a contract ends for any reason. A breach is when one of the parties does not perform under the contract. Breach could lead to discharge, rescission, or damages, or nothing.
breach of contract
lawsuit for breach of contract
if there is no date specify this does not mean there is a breach. for a breach to occur one of the parties to a contract must not have fully performed their obligations. if there is no date specified in the contract the courts will apply a reasonable date
If you opt out and have the right to do so it is considered terminating a contract. If you unilaterally decide to opt out of a contract and do not have a legal basis to do so; that is considered a breach of contract. If you breach a legal contract you can be sued.
Breach of contract may be charged if either party fails to comply with the terms of a legally valid contract.
anticipatory breach
A contract between two or more parties might contain conditions. If a condition of a contract is broken, it is a breach of condition.
N. Henderson has written: 'New problems for the business client' -- subject(s): Breach of contract, Great Britain, Liability (Law) 'Remedies for breach of contract' -- subject(s): Breach of contract