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1. Contract Remedies Definitions
2. Contract RemediesTerms

Monetary damages which compensate the non-breaching party for the loss of the bargain

Specific Performance

Applied to save a contracting party from the strict enforcement of a contract or contract terms and based on the concepts of fairness, equality, and moral rights

Equitable doctrine that permits recovery of compensation even if no contract exists

Injunction

Consequential Damages

Monetary damages set or agreed to in advance that form part of the contract

Mitigate

Compensatory Damages

Equitable Remedies

Equitable remedy ordering a person to stop or cease a certain act

Quasi Contract

Liquidated Damages

Reformation

Equitable remedy that permits court to modify contract to express the true intentions of the parties to the contract. e.g. correcting a clerical error

Monetary damages awarded in addition to compensatory damages which represent foreseeable damages

Once contract is breached, non-breaching party has duty to avoid, reduce or ______his damages

Equitable remedy available when monetary damages are not sufficient to compensate