What are the remedies for breach of contract?

In Mississippi, the remedies for breach of contract are explained in the Mississippi Code of 1972. Breach of contract occurs when one of the parties fails to fulfill their obligations under the contract, either by refusing to perform or neglecting to perform. The most common remedy for breach of contract in Mississippi is monetary damages. This is a sum of money awarded to the wronged party to compensate them financially for any losses that occurred due to the breach. In order to receive damages, the party harmed must prove that the breach was substantial and that they suffered a financial loss as a result. Another remedy for breach of contract in Mississippi is specific performance. This requires the breaching party to fulfill their obligations under the contract. It is only available when money damages are not enough to make up for the losses suffered by the wronged party. Finally, Mississippi allows the wronged party to ask a court to rescind the contract, or cancel it. This remedy is only available when the damages suffered by the wronged party are too great to be remedied through money or specific performance. In Mississippi, the remedies for breach of contract depend on the specific situation and facts of the case. Courts must assess the individual circumstances to determine which remedy is most appropriate.

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