What should a party seek if a contract is breached?

When a party seeks a remedy for a breach of contract, it typically considers options designed to put it in the position it would have been in if the contract had been fulfilled. The most common remedies include damages, specific performance, or rescission.

Damages refer to monetary compensation for losses resulting from the breach. This is aimed at covering the harm suffered due to the non-performance of the contract. Specific performance is a remedy that compels the breaching party to fulfill their obligations under the contract, typically used when the subject matter is unique and monetary damages would not suffice. Rescission allows the parties to cancel the contract entirely and return to their pre-contractual position, applicable when there has been a fundamental breach or misrepresentation.

Seeking reinstatement of the contract terms is not a typical remedy, as it does not account for the party's loss or the potential need for enforcement of obligations. Mutual consent for renegotiation might be a pathway outside of litigation but doesn't address the immediate need for remedying the breach. Verification of performance falls short because it does not provide a remedy for the breach itself but rather focuses on confirming compliance.

Therefore, choosing the combination of damages, specific performance, or rescission offers a comprehensive approach to addressing the consequences of a