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When one party to a contract does not perform his duties they are in breach of contract and there are legal implications. Each party to a contract makes a promise to either perform a certain duty or pay a certain amount. If one party fails to act as promised, and the other party has fulfilled the duties under the contract, the other party is entitled to legal relief. When one party has breached the contract, the party who has performed is entitled to various remedies for the breach.
* Consequential damages - This requires the breaching party to pay the non-breaching party an amount that puts the non-breaching party in the same position they would have been in if the contract was performed
* Punitive damages - Courts can force the breaching party to make a payment as a punishment for the breach of contract
* Liquidated damages - The parties agree, at the time they make the contract, that if one party breaches the contract, the breaching party should pay a specified sum. Thus, this is an amount written in the contract
* Nominal damages - This is a minimal amount provided to the non-breaching party if that party won the case but did not financially lose much
In certain situations, they can also get specific performance of the contract.
What else can I help you with?
Has the contract not been signed but performed?
Yes, the contract has been performed even though it has not been signed.
When a contract is executory?
A contract that has not yet been fully performed by the parties is called an executory contract.
What happens if the subject matter of a contract is destroyed?
The contract is void.
What happens if a contract violates a law?
That contract will be withdrawn and you will probably be charged.
What happens when the atria contract?
it is cool
What happens to your muscles when you are nervous?
They contract
What happens if you break a legal contract?
A legal contract is binding. If you break the contract without having the legal right to do so as set in the terms of the contract or by having the contract declared void by a court, the other party has the right to sue you in order to be compensated for the value of the contract.
What happens when your 2 year contract is over?
There is not enough detail in this question. Your 2 year contract was for ... what? Is it not possible to renew the contract?
What happens when the rib muscles contract?
you exhale (:
Why a party can be permit to discharge from a contract under the substantial performance?
Because there was a deficit in the way they performed under the contract
What happens when an employer breaks his contract of employment?
Report him/her
How can quantum merit be exercised in the law of contract?
Quantum meruit is an equitable relief given where the terms of a contract may not be enforceable but the party who has performed is awarded a reasonable value for the work performed by such party (which may be less than the expected contract rate).
