Remedies

Question 1

Legal vs. Equitable

Answer 1

Legal remedies are for money damages. Equitable remedies are available when there is no adequate remedy at law.

Question 2

Damages general rule

Answer 2

In general, one can only collect damages that are reasonably certain and foreseeable. Parties have the duty to mitigate damages, or take reasonable efforts to avoid further
damages.

Question 3

Expectation Damages

Answer 3

The default legal remedy for money damages is expectation damages. Expectation damages are meant to put the non-breaching party in the position they would have been if the contract had been performed. There must be reasonable certainty as to the amount of the expectation damages.

Question 4

Reliance Damages

Answer 4

Reliance damages are awarded if expectation damages are not available. Reliance damages are for un-reimbursed expenses that a party paid due to their reliance on the contract that was breached.

Question 5

Consequential damages

Answer 5

Consequential damages are special damages due to the specific or special circumstances of the non-breaching party. Consequential damages reimburse the non-breaching party foreseeable losses as a result of a breach.

Question 6

Specific performance

Answer 6

Specific performance is an equitable remedy in which the court orders a party to perform because the subject matter of the contract is unique. Land is always considered unique

Question 7

Rescission

Answer 7

Rescission can be sought when there was no meeting of the minds. Rescission puts the parties in the position they were in prior to the contract.

(can use in mistake or misrepresentation cases)

Question 8

Restitution

Answer 8

Restitution is the return of a benefit conferred.

Question 9

Incidental Damages

Answer 9

Incidental damages are extra costs incurred by the non-breaching
party in dealing with the breach.