What are the common types of remedies available?

In Nebraska, a breach of contract can occur when one party fails to uphold their end of an agreement. If this happens, the non-breaching party may be entitled to remedies that seek to make them “whole” again. The most common types of remedies for breach of contract available in Nebraska are compensatory damages, specific performance, and liquidated damages. Compensatory damages are monetary damages given to the non-breaching party to make them as if the contract had not been breached. This money comprises both direct losses from the agreement, such as lost profits, and indirect losses such as embarrassment or other emotional distress. Specific performance is an equitable remedy available when money damages would not be sufficient. This form of relief requires the breaching party to do what they originally agreed to do, so the non-breaching party gets the benefit of the contract agreement. Liquidated damages are amount of money agreed to by the parties in a contract, which will be paid to the non-breaching party in the event of a breach. These damages are rarely awarded when money damages are deemed to be adequate. In addition to these remedies, the non-breaching party may also be able to obtain attorney’s fees and interest. Attorney’s fees are costs the non-breaching party would not have incurred if the contract had not been breached, such as court filing fees and attorney’s fees. Interest is a way to compensate the non-breaching party for the value of their money after the date of breach.

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