Explore the most common remedy for breach of contract: damages, including a discussion of liquidated, nominal, expectation, and reliance damages.
When a breach of contract occurs, the injured party may sue for a remedy in court. The type of remedy can vary widely, depending on the situation and parties involved. One common type of remedy is the payment of a sum of money. Today, you’ll be learning about monetary remedies, which are also known as damages.
To start off our discussion, we’ll talk about the right to damages. After that, we’ll take a look at the various types of damages, such as liquidated damages or nominal damages. Next,...