A breach of contractual obligations is not always so apparent. The defendant may assert that it has performed in accordance with the contractual terms, or there may be a legal excuse for non-performance or partial performance. If there has been a breach, then what remedies does the non-breaching party have?
Under some circumstances, interlocutory or injunctive relief may be sought that can preempt an anticipated breach. Consult a Toronto contract lawyer from Affinity Law if you are accused of a breach or you claim the other party is in breach. Other legal remedies available to you may include:
- Compensatory damages—consequential and expectation. For example, a business can claim damages for what it expected to receive under the contract or according to the market values. It can also claim loss of business profits from the failure to deliver goods, or what was reasonably foreseen when the parties contracted.
- Quantum Meruit—the value of what was earned.
- Rescission of the contract—the contract is terminated and the parties are restored to the positions they had before entering into the contract.
- Specific performance—the breaching party must perform a specific act including completing its obligations under the contract.
- Restitution or reimbursement—restores the party to its position before the contract was formed.
- Mitigation—the nonbreaching party must take steps to mitigate its losses to prevent further damage.
- Liquidated damages—a specific amount to be paid as damages for specific types of breaches as defined within the contract and which amount was agreed to at the time the contract was formed.