Contract law is one of the fundamental backbones of modern society. It allows for reliable dealings between the parties to an agreement and provides remedies in case of a breach. A Kansas business owner may be entitled to recover damages, demand specific performance or cancel the contract and seek restitution if another party fails to perform.
Money damages are the most common remedy in breach of contract cases. Depending on the specifics of the case, there are a few different types of damages that may be available. Compensatory damages are designed to put the non-breaching party in the same position as though the breach had not occurred. Many contracts include terms setting forth liquidated damages, which may allow the parties to avoid the costs of litigation.
In a case where a breach occurred but the non-breaching party did not suffer any actual loss, the court may award nominal damages. Punitive damages are designed to punish and are not commonly awarded in breach of contract cases. Depending on the circumstances, though, a court may order the breaching party to make payment beyond that required to fully compensate the non-breaching party. In cases where money damages are not adequate, a court may order specific performance. This would require the breaching party to perform rather than to pay money. Specific performance is often available in breach cases involving the sale of a unique piece of real property, for instance.
The non-breaching party may also choose, depending on the facts of the case, to void the contract and pursue restitution. An attorney with experience in contract law can help a client determine what remedies may be available with respect to a particular agreement.
Source: FindLaw, “Breach of Contract and Lawsuits”, accessed on Feb. 11, 2015
