Remedies for Breach of Traditional and Online Contracts

Remedies for Breach of Traditional and Online Contracts

Remedies for Breach of Traditional and Online Contracts

Performance and Breach

Remedies for Breach of Traditional and Online Contracts

Remedies for Breach of Traditional and Online Contracts

If a contractual duty has not been discharged or excused, the contracting party owes an absolute duty (covenant) to perform the duty.
Breach of contract – If a contracting party fails to perform an absolute duty owed under a contract.

Types of Performance

Anticipatory Breach

A breach that occurs when one contracting party informs the other that he or she will not perform his or her contractual duties when due.Monetary Damages
A non-breaching party may recover monetary damages from a breaching party.Monetary damages are available whether the breach was minor or material.

Compensatory Damages

Award of money intended to compensate a non-breaching party for the loss of the bargain.They place the non-breaching party in the same position as if the contract had been fully performed by restoring the “benefit of the bargain.”

The amount of that will be awarded for breach of contract depends on:The type of contract involved, andWhich party breached the contract.
Special types of contracts:Sale of Goods,Construction Contracts,Employment contracts

Breach of the Implied Covenant of Good Faith and Fair Dealing

Under this covenant:The parties to a contract are held to the express terms of the contract, and They are also required to act in good faith and deal fairly in all respects in obtaining the contract.A breach of this implied covenant is a tort for which tort damages are recoverable

 

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