What is specific performance in a contract breach?
Specific performance punishment will be available for those contracts involving the or other types of alternative unique personal property, however specific performance will not be available for personal service contracts. If these types of breaches exist the plaintiff can seek either compensatory damages or specific performance, but not both.
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What happens if either party breaches a contract?
In certain circumstances, contracts will be breached if one party fails to perform the terms of the agreement within the contract. If the terms of the agreement have been breached, the guilty party can be subject to potential punishments such as compensatory damages and discharge from the original contract. In a breach of contract, the […]
What are punitive damages?
Punitive damages will only be available in breach of contract if the breach involved fraud. Punitive damages are much more severe than compensatory damages and will often be unavailable due to a breach of contract.
What are compensatory damages?
Compensatory damages are often referred to as money damages and will generally be applicable if the guilty party has breached the terms of the agreement in the contract. Compensatory damages will both be money damages for the current period as well as all foreseeable periods if the plaintiff is able to prove foreseeable damages as […]