What are the remedies for breach of contract under Admiralty Law?

Under Admiralty Law, breach of contract is an offence that can result in remedies imposed by a court of law. In Delaware, the most common remedies for breach of contract include compensatory damages, consequential damages, liquidated damages, specific performance, and injunctive relief. Compensatory damages are those that make up for the losses incurred by the aggrieved party as a result of the breach. The purpose of compensatory damages is to put the party in a position they would have been in had the contract been fulfilled. In some cases, compensatory damages may also include punitive damages. Consequential damages are those damages that arose from the breach but were not foreseeable by the parties involved. These are damages that are incurred as a direct result of the breach. Liquidated damages are damages agreed upon by both parties ahead of time and specified in the contract. These damages are not based on proof of actual damages, but are predetermined in the contract to put the parties in the positions they would have been in had the contract been fulfilled. Specific performance is another remedy which requires the breaching party to fulfill the obligations of the contract. This remedy is applicable when damages are not enough to compensate the aggrieved party. Lastly, injunctive relief is the court-ordered prevention of a certain action. This remedy requires the breaching party to stop doing something or to do something in a certain way. This remedy is often used to stop a party from violating the agreement. In Delaware, the court will determine the remedy that best fits the situation. Generally, a court will order compensatory damages, liquidated damages or specific performance. Injunctive relief is also often ordered if it is necessary to protect the aggrieved party, although this is a rare occurrence.

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