What are the common types of remedies available?

In Texas, there are several common types of remedies available in contract law. A remedy is a means of enforcing a contract or correcting a breach. Punitive damages, liquidated damages, and specific performance are the three primary categories of remedies sought by a court. Punitive damages are a type of award a court may use to punish the breaching party for their negligence or misconduct. These damages are not meant to compensate the aggrieved party for the losses they suffered as a result of the breach, but are instead a way for a court to deter the breaching party from engaging in similar conduct in the future. Liquidated damages are a pre-determined sum agreed upon by the two parties at the time of signing the contract. This sum is the amount of compensation to be paid to the aggrieved party in the event the contract is breached. It is a way for the two sides to agree upon the amount of damages in advance of any breach, and for the aggrieved party to be compensated without having to go through a court case. Specific performance is a remedy that requires the breaching party to do exactly what they agreed to in the contract. This is used when money is not able to adequately compensate the aggrieved party for their losses. In this scenario, the court will order the breaching party to take the necessary steps to fulfill their contractual agreement. These three remedies are the most common types available under Texas contract law. Each is designed to provide a way to remedy a breach of contract and ensure the aggrieved party is fully compensated for any losses they may have suffered.

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What are the common types of remedies available?

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