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Contracts ABSTRACT

This document provides an introduction to damages and remedies for breach of contract. It states that when one party breaches a contract, the innocent party can file a lawsuit seeking a legal remedy from the court. The main remedies discussed are damages, specific performance, rescission, and restitution, with damages being the primary remedy available in courts of limited jurisdiction. Damages awarded typically aim to compensate for injury or loss from the breach. The introduction concludes by stating that the main project will provide further detailed study of remedies and damages for breach of contracts.

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66 views1 page

Contracts ABSTRACT

This document provides an introduction to damages and remedies for breach of contract. It states that when one party breaches a contract, the innocent party can file a lawsuit seeking a legal remedy from the court. The main remedies discussed are damages, specific performance, rescission, and restitution, with damages being the primary remedy available in courts of limited jurisdiction. Damages awarded typically aim to compensate for injury or loss from the breach. The introduction concludes by stating that the main project will provide further detailed study of remedies and damages for breach of contracts.

Uploaded by

praveen
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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ABS TR ACT

SUBJECT: CONTRACTS

TOPIC: DAMAGES AND REMEDIES OF BREACH OF CONTRACTS

INTRODUCTION:

A breach of contract claim is a common type of civil lawsuit. This type of


lawsuit will arise when one contracting party fails to uphold the obligations due
under the contract. When one party breaches the contract, the other party is often
referred to as the innocent party. The innocent party can file a lawsuit and seek
a legal remedy. A legal remedy is the method by which the court attempts to bring
justice to, or compensate, the innocent party.
There are several remedies for breach of contract, such as award
of damages, specific performance, rescission, and restitution. In courts of limited
jurisdiction, the main remedy is an award of damages. Because specific
performance and rescission are equitable remedies that do not fall within the
jurisdiction of the magistrate courts, they are not covered in this tutorial.

Damages are not recoverable for loss that the party in breach did not have
reason to foresee as a probable result of the breach when the contract was made.
Unusual damages are normally not compensable. They become compensable,
however, when there is evidence that there was an agreement to deviate from the
default rule

Often, the legal remedy for a breach of contract claim will include an award
of damages. A damage award is money ordered to be paid as compensation for the
injury or loss. There are several different types of money damages, and several
different methods that the courts use to calculate damages.
This is the introduction for my project, Remedies and Damages of Breach
of Contracts. The detailed study will be in the main project.
Submitted by,
NAME: B. PRAVEEN
[Link]: 2015020
SEMESTER: 2nd semester

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