remedies

Question 1

What are the 3 main types of remedy in contract law?

Answer 1

-Legal remedies (repudiation and damages)
-Equitable remedies (injunctions and specific performance)
-Specific remedies (under the CRA 2015 and Law Reform (Frustrated Contracts) Act 1943)

Question 2

What is meant by repudiation?

Answer 2

Ending a contract/ setting it aside - may result in lawful refusal of future performance, rejecting any goods and a refund of money paid. Actual or anticipatory breach of conditions leads to repudiation, and serious (actual or anticipatory) breaches of innominate terms could lead to repudiation too.

Question 3

What are the 2 types of damages?

Answer 3

-Nominal damages
-Compensatory damages

Question 4

What are nominal damages?

Answer 4

Nominal damages occur when nothing has been lost as a result of the breach, so themdamages are simply there to recognise that there was in fact a breach. Due to there being no loss, these damages are usually a very small amount.