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    Monetary Damanges and Remedies for Breach of Contract

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    What are the monetary damages available for breach of contract?
    What sort of remedies are available for breach of contract?

    Contractual capacity. The law generally presumes that people have the capacity to enter into contracts.
    However, certain classes of people do not have the legal capacity to contract. Who are they, and why?

    One of the things the UCC does is apply express and implied warranties. What are some of the warranties applied under the UCC, and what is the reasoning for doing so?

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    Solution Preview

    Monetary damages for breach of contract: The party who suffers damages for a breach of contract is entitled to seek monetary compensation for it.

    There are four types of monetary breach of contract:

    They are I) Compensatory; ii) Consequential; iii) Punitive; IV) The Nominal.

    i) Compensatory: is for the injuries or losses actually incurred by the party who has not caused it.
    ii) Consequential: results indirectly from the breach though foresee able reasonably by the party causing the breach when it occurred.

    iii) Punitive: The purpose of the damage is to punish the wrong doer as well as prevent ...

    Solution Summary

    The solution discusses monetary damages and remedies for breach of contract.