Remedies for breach of contract

What Is A Breach Of Contract?

Breach of contract is defined as the violation of any terms and conditions that can bind a contract. There can be different reasons for breach such as late payments, a serious violation of any law or failure to deliver a particular asset. 

If two parties are involved in a situation where a contract is required and in case one party is not able to fulfil those requirements then it is known as breach of contract. It can happen in both oral and written contracts. Several remedies for breach of contract are issued by the law that people can follow. 

It is possible that concerned parties involved in the agreement can solve the breach between themselves or in certain specific conditions they can also involve the legal methods such as court. In these cases, remedies for breach of contract are advised. 

What Are The Various Types Of Breaches?

There can be different types of breach contracts such as material breaches, actual breaches, anticipatory breaches or a minor breach. All of them involve different conditions and address various issues. They are mentioned below:

1. Anticipatory: It involves anticipation by one of the involved parties, this type of breach may occur expressively or through the conduct. The concerned party will communicate that they are going to commit a breach.
2. Actual: In case one of the parties involved in the contract is not able to meet the requirements or refuses to abide by the conditions in the contract then it is formerly known as an actual breach of contract.

What Are The Remedies For Breach Of Contract?

There can be various remedies for breach of contract. They are mentioned below:

• Suit for Rescission 

When one of the involved parties breaches the contract then another party can choose to disobey conditions given in the contract. In case one of the parties participating in the contract does not obey the rules then it stands cancelled. The concerned parties can file a legal case for the damages that occurred. This suit is preferred to obtain damages that occurred and act as a remedy for breach of contract.

• Suit for Injunction 

When the court gives the restraining order it is known as an injunction. The court can ask a person not to do a certain specific act. In case a person performs an act even after the injunction the aggrieved party can file a case for the injunction. The suit can be temporary or permanent depending upon the condition of the aggrieved parties. 

• Suit for performance

When the court gives a particular remedy for breach of contract to both the parties involved so that they can perform the activities according to the contract. Suit for performance is one of the most common suits. 

• Suit for the Quantum Meruit 

Quantum Meruit is defined as those contracts signed for the reasonable values of services. When an employer hires a particular individual for an activity and if it is left incomplete or is not performed properly then the employer can file this suit. Additionally, the law also states that the employer must pay the employee the amount for the services performed. In case the employee is under the express contract for a certain specific amount then they cannot abandon the contract and the suit for the quantum meruit is applied.

• Suit for damages 

Ordinary damages: It occurs when the damages occur naturally through the breach. 

Liquidated damages and penalties: In certain specific cases some contracts can address the breaching conditions and penalties related to it. If such contracts break then the party causing the breach must pay the amount mentioned in the contract to the other concerned party. 

Special damages: The concerned party must prove that it loses according to the contract and claim the damages.

Nominal damages: It is a small remedy given in certain specific cases for the breach. 

Vindictive damages: This breach addresses the mental and emotional suffering of the concerned party. Generally, legal procedures such as court may take care of these cases.

Conclusion 

Breach of contract is a legal procedure introduced to protect the rights of the involved parties. With the increase in technologies, people are using specialized methods to break contracts. Breach of contract is a legal procedure and laws of the court should be followed properly.

In case one of the parties is not satisfied with the contract they can break it within three days. If the contract is broken without any prior information then the involved parties are eligible to take legal actions. You can contact the legal professionals so that they can explain the remedies for breach of the contract properly.