What are the common types of remedies available?

In Hawaii, the common types of remedies available for a breach of contract are money damages, specific performance, rescission, and reformation. Money damages are often the most commonly sought remedy by parties to a breach of contract. Money damages are an award of money from one party to the other as compensation for the breach. The amount awarded is based on the amount of harm or loss the non-breaching party suffered due to the breach. Specific performance is a type of remedy that requires the party that breached the contract to complete their contractual duties or obligations. This remedy is typically used in cases where money cannot adequately compensate for the harm done, such as in the sale of land. Rescission is a remedy that returns the parties to the contract to the positions they were in prior to the breach. This remedy is typically used in cases where one party could not have foreseen the breach or the parties’ expectations are too different to be reconciled. Reformation is a remedy used to change the terms of the contract to accurately reflect both parties’ expectations. This remedy is typically used when one party made a mistake in the formation of the contract. The mistake can be corrected, and the agreement can be changed to more accurately reflect the parties’ agreement. Ultimately, the specific remedy chosen for a breach of contract depends on the specifics of the situation. A court may award any combination of the remedies outlined above, or a completely different remedy, in order to provide a fair and equitable outcome.

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What are the common types of remedies available?

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