What are the legal remedies for a breach of contract?

The legal remedies for a breach of contract in Delaware depend on the specifics of the contract, including the type of breach, the damages caused, and the agreement between the parties. Generally speaking, the most common remedies for a breach of contract are monetary damages, specific performance, and/or rescission. Monetary damages seek to compensate the non-breaching party for any losses suffered resulting from the breach of contract. The non-breaching party can sue for the amount of money that would be needed to place them in the same position they would have been in had the contract been properly fulfilled. Specific performance requires the breaching party to fulfill the obligations of the contract. This remedy is used when monetary damages are inadequate and the breaching party is unable to perform the contract. Rescission of the contract is a remedy that cancels the contract and restores the parties to the positions they would have been in had the contract not been made. This remedy is usually used when a material breach has occurred. In the end, the court is the ultimate authority on deciding the remedy for a breach of contract in Delaware. The court evaluates the stipulations of the contract and the extent of the breach before ordering an appropriate remedy.

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