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Question
Write about the various remedies for breach of contract?
Solution
There are various types of remedies for the injured parties listed as follows:
1. Recission of Contract – In case of breach of contract by one party, then the other parties may rescind the contract, and thereby the party is absolved from all obligations under the contract.
2. Claim for Specific Performance – In some specific cases if the damages are not the adequate remedy, then the court can direct the party in breach for the specific performance of the contract. In such a case, the promise is carried out as per the terms and conditions of the contract.
3. Claim for Injunction – Injunction is an order passed by a competent Court restraining a person from doing some act. An injunction can be defined as a mode of securing the specific performance of the negative terms of a contract.
4. Claim for Quantum Merit – The claim for quantum merit may arise if a contract performed by one party has become discharged by breach of the other party. The meaning of the phrase quantum merit is as much as earned’.
5. Claim for Damages – The claim for quantum merit may arise if a contract performed by one party has become discharged by breach of the other party. The meaning of the phrase quantum merit is as much as earned.
