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Business LibreTexts

16: Remedies

  • Page ID
    18866
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    Learning Objectives

    After reading this chapter, you should understand the following:

    1. The basic theory of contract remedies, and why courts don’t just order the promisor to perform as promised
    2. The interests that are protected by contract remedies
    3. The types of legal remedies
    4. The types of equitable remedies
    5. The limitations on remedies

    We come at last to the question of remedies. A valid agreement has been made, the promisor’s duties have not been discharged; he or she has breached the contract. When one party has failed to perform, what are the rights of the parties? Or when the contract has been avoided because of incapacity or misrepresentation and the like, what are the rights of the parties after disaffirmance? These questions form the focus of this chapter. Remedies for breach of contracts for the sale of goods will be considered separately, in Chapter 18 "Title and Risk of Loss".