What are the common types of remedies available?

In Mississippi, there are a few common types of remedies available in contract law. These include: 1. Money Damages: This type of remedy awards monetary compensation for any losses suffered as a result of a breach of contract. The amount awarded is typically the difference between the value of the contract and the benefit actually received by the non-breaching party. 2. Specific Performance: A court may order the breaching party to specifically perform the contract according to its terms. This is often done when money damages would not adequately remedy the damages suffered by the non-breaching party. 3. Rescission: Also known as cancellation, rescission is an equitable remedy that involves the two parties terminating the contract and returning to the status quo before the contract was signed. 4. Restitution: This type of remedy is used to restore the non-breaching party to the position they would have been in had the contract never been formed. 5. Reformation: If the contract was inaccurately drafted, a court may order its reformation to make it truly reflect the agreement between the two parties. All of these remedies are available for breach of contract claims in Mississippi. A lawyer can provide more information about the types of remedies available and which one is most appropriate for a particular case.

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What are the common types of remedies available?

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