What are the remedies available for breach of contract?

In California, remedies available for breach of contract are typically damages or an equitable remedy. Damages are a monetary award that seeks to make the non-breaching party made whole. There are two types of damages awarded for breach of contract: Compensatory damages and Consequential damages. Compensatory Damages seeks to put the non-breaching party in the same financial position they would have been in had the contract not been breached. This can include the costs the contract has already been spent, as well as any lost profits associated with the breach. Consequential Damages are damages incurred due to the breach of contract. These can include loss of production, business reputation, and reputation. Equitable remedies are remedies available to the non-breaching party that are not related to monetary damages. The most common equitable remedy in California is “specific performance”. Specific Performance is when the non-breaching party is ordered by the court to perform the terms of the contract. Another equitable remedy is “rescission”, which is when the court rescinds or cancels the contract. This allows both parties to be put back in their original positions with no financial damages awarded. A final remedy available to the non-breaching party in California is “injunction” which is an order from the court that requires the breaching party to take action or to refrain from taking action. An example of an injunction could be a court ordering the breaching party to continue honoring the contract, or to stop any activity that has violated the contract. The remedies available for breach of contract in California are typically damages or equitable remedies. Depending on the specifics of the breach of contract, the court will decide which type of remedy is available.

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What are the remedies available for breach of contract?

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