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The answer to this question may vary depending on your jurisdiction.
In general, at common law, breach of contract remedies come in two flavor: legal, and equitable.
Equitable remedies evolved through the Courts of Equity (shock!) in England; legal through the Courts of Law.
To grossly oversimplify, the court of law is based upon the written laws and statutes; the courts of equity, on what is "fair."
The remedies were introduced over literally hundreds of years by a number of legislative bodies and courts.
By comparison, most states in the United States provided breach of contract remedies in their statutes. You can actually look up each statute and see who introduced it, and when.
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What has the author N Henderson written?
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
What has the author H G Beale written?
H. G. Beale has written: 'Contract Law' -- subject(s): Contracts, Cases 'Chitty on Contracts (Common Law Library)' 'Remedies for breach of contract' -- subject(s): Breach of contract
Is there a term to describe someone breaching a contract for economic benefit - ie when it is better to pay damages for breach of contract than to continue under it.?
Yes, the term for such a person is "intelligent." The system of contracts and remedies for breach includes the presumptionthat anyone with a "better deal" elsewhere will breach an inefficient contract, provided the risk of damages is outweighed by the potential benefits of the better deal.
Does breach of contract void a contract?
A breach of contract does not void the entire contract. It can still be enforced.
What is the equitable remedy of Specific Performance?
Specific performance is a legal remedy in which a court orders a party to perform a specific act, usually related to a contract. It is typically used when monetary damages are inadequate to fully compensate the injured party, and the subject matter of the contract is unique, such as real estate. This remedy is discretionary and may be granted if the court determines it is appropriate under the circumstances.
Does any breach of contract allow the non breaching party to cancel the contract?
Not every breach allows a contract to be cancelled. It has to be a material breach.
What is the difference between breach of contract and discharge of contract?
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.
What are some appropriate remedies for a supplier's failure to perform?
Some appropriate remedies for a supplier's failure to perform include seeking damages for any losses incurred, negotiating a new agreement with updated terms, or sourcing from alternative suppliers if feasible. It is also important to review the contract terms to identify any provisions related to breach of contract and remedies.
If buyer changes mind on home purchase which does not fall within the contract what remedies does the seller have regarding the signed contract?
The seller is interested in selling the property and not getting into a legal battle over breach of contract. Keep the deposit and move on to the next buyer.
What is meant by a breach of contract?
A breach of contract in legal terms amounts to a broken promise to do or not do an act. Breaches of a contract are single, occurring at a single point in time, or continuing breaches. A lawsuit for breach of contract is a civil action and the remedies awarded are designed to place the injured party in the position they would be in if not for the breach
What is theDifference between breach of contract and discharge of a contract?
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.
What is the opposite of obeying a contract?
breach of contract
