Remedies for breach of contract Flashcards
1
Q
What are the two types of remedy available for breach of contract?
A
Common-law remedies
Equitable remedies
2
Q
What is the most common remedy?
A
Damages.
3
Q
If the case is proven, what is granted as a right?
A
Damages.
4
Q
What are the three types of damages?
A
Unliquidated
Liquidated
Quantum meruit
5
Q
Why were equitable remedies developed?
A
Where damages would not compensate the injured parties
6
Q
Quantum meruit definition
A
A reasonable sum of money that is to be paid for services in contracts where an exact sum of money is not stipulated
7
Q
Who decides the equitable remedies?
A
Courts
8
Q
What are the four types of equitable remedies?
A
Specific performance
Injunctions
Rescission
Rectification of a document
