What are the common types of remedies available?

In South Carolina, the common types of remedies available in contract law are damages, specific performance, and rescission. Damages are the most common remedy, and they are awarded to the injured party in a contract dispute. This means the wronged party is entitled to receive compensation for any losses or harm suffered as a result of the breach of contract. Damages may be awarded to cover economic losses, such as medical bills, as well as emotional distress. Specific performance is another type of remedy, in which the injured party is offered a remedy that requires the breaching party to fulfill its end of the contract. This type of remedy is often used when damages are not sufficient. A court may also order the breaching party to pay the injured party any lost profits or additional costs incurred due to breach. Finally, rescission is when a court cancels a contract and returns the parties to their original positions before they ever entered into the agreement. This type of remedy is often used if a contract was entered into through force, fraud, misrepresentation, or mistake. These are the three common types of remedies available in South Carolina for contract law disputes. Each remedy is designed to ensure that the injured party is compensated for the breach of contract and that justice is served.

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What are the common types of remedies available?

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