There are two main types of remedies for breach of contract in the United States; equitable remedies and legal remedies. Legal remedies are known as money damages, and may further be classified into liquidated, nominal, punitive and compensatory damages. Compensatory damages are awarded to the plaintiff to compensate the plaintiff for his or she losses depending on the amount of actual damage, pain and suffering, lost wages among others. Consequential damages are special damages resulting from distinctive proofs and issues that are not related to the contract. Punitive damages are aimed to castigate the offender to discourage involvement with such conduct in the future. Nominal damages are awards of $1 or $5 to show that the plaintiff was wronged, even though there were no real damages suffered from the defendant’s actions (Kubasek et al, 2016).
Equitable remedies are also given for breach of contract in the United States. Where monetary damages may not be adequate, courts may resort to the use of equitable damages of rescission and restitution and specific performance. Specific performance is the specific enforcement that requires the party contravening the contract to honor the entire conditions of the contract. Courts may also order or the repatriation of any goods given up under the agreement through restitution or termination of the entire contract known as rescission.
In Canada, the courts do not compel the performance of a contract. Nonetheless, courts may order for specific performance of an agreement or give injunction to prevent the short-term or long-lasting breaking of contract terms. Canadian courts may also award damages, but under different principles from damages governing common law. Canadian courts award liquidated and compensatory damages (Rabideau Law, 2020).
Equitable remedies are also given for breach of contract in the United States. Where monetary damages may not be adequate, courts may resort to the use of equitable damages of rescission and restitution and specific performance. Specific performance is the specific enforcement that requires the party contravening the contract to honor the entire conditions of the contract. Courts may also order or the repatriation of any goods given up under the agreement through restitution or termination of the entire contract known as rescission.
In Canada, the courts do not compel the performance of a contract. Nonetheless, courts may order for specific performance of an agreement or give injunction to prevent the short-term or long-lasting breaking of contract terms. Canadian courts may also award damages, but under different principles from damages governing common law. Canadian courts award liquidated and compensatory damages (Rabideau Law, 2020).
