What are some of the remedies available to parties to a contract who breach their obligations?

In California, parties to a contract who breach their obligations are subject to certain remedies. These remedies are designed to provide compensation for losses suffered due to the breach. One common remedy is called "specific performance." This remedy requires the breaching party to fulfill their contractual obligations as originally agreed upon. This remedy is most commonly used when the goods or services at issue are unique, or not readily available in the marketplace. Another remedy available is monetary damages. Monetary damages are intended to compensate the non-breaching party for their losses. This includes out-of-pocket losses, lost profits, and costs associated with the breach. A third remedy is rescission. This remedy allows the non-breaching party to cancel the entire contract, and return any goods or monies exchanged as a result of the contract. This remedy is generally used when the breach is so serious that it makes it impossible for the contract to be fulfilled. Finally, a court may issue an injunction, which is an order to the breaching party to do, or stop doing something. Injunctions can be used to prevent a breach from occurring, or to stop a party from engaging in activities that are in violation of their contractual obligations. Overall, these remedies provide the parties to a contract with the ability to pursue compensation for losses suffered due to a breach of contract in California.

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What are some of the remedies available to parties to a contract who breach their obligations?

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