What are the common types of remedies available?

In Virginia, there are several types of remedies available for contract disputes. These fall into two main categories: legal remedies and equitable remedies. Legal remedies, also known as damages, are designed to make the injured party “whole” again by requiring the breaching party to pay money to the injured party. Common forms of legal remedies include compensatory damages, which are intended to restore the injured party to their pre-breach economic position, and punitive damages, which are intended to punish the breaching party. Equitable remedies focus on restoring the parties to their original contractual relationship. The most common of these remedies are specific performance, which requires the breaching party to fulfill its contractual obligations, and injunctions, which prohibit the breaching party from taking certain actions or failing to take certain necessary actions. In addition to these two main categories, other forms of remedies are also available in Virginia. For example, if a contract contains an arbitration clause, a court may stay proceedings in favor of arbitration. Furthermore, courts may also award rescission, which cancels the contract, and restitution, which is designed to restore the party to its pre-contractual economic position. Overall, Virginia has a variety of remedies available for contract disputes and in most cases, the type and amount of relief available will depend on the specific facts of each situation.

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What are the common types of remedies available?

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