Four Types of Damages Available in a Breach of Contract - Pence Law Firm, PC (2024)

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Four Types of Damages Available in a Breach of Contract - Pence Law Firm, PC? ›

Are you wondering about seeking damages for breach of contract? There are five important types of damages that might be available, depending on your situation: compensatory damages, specific performance, an injunction, liquidated damages, or rescission.

Are you wondering about seeking damages for breach of contract? There are five important types of damages that might be available, depending on your situation: compensatory damages, specific performance, an injunction, liquidated damages, or rescission.

In each scenario, you're clearly the victim of an obviously broken contract, but the tricky part is determining what type if contract breach occurred and what remedies are legally available to you. Generally speaking, there are four types of contract breaches: anticipatory, actual, minor and material.

These types of lawsuits are common in business litigation. There are four elements of a breach of contract claim: a valid contract, performance, breach, and damages.

Section 73 states- “When a contract has been broken, the party who suffers by such breach is entitled to receive, from the party who has broken the contract, compensation for any loss or damage caused to him thereby, which naturally arose in the usual course of things from such breach, or which the parties knew, when ...

A negligence claim requires that the person bringing the claim (the plaintiff) establish four distinct elements: duty of care, breach, causation, and damages.

What are the 4 main elements of a contract? ›

The basic elements required for the agreement to be a legally enforceable contract are: mutual assent, expressed by a valid offer and acceptance; adequate consideration; capacity; and legality.

You cannot bring a breach of contract claim merely because the other party has failed to perform; you must have suffered loss as a result. The type of loss you have incurred must have been a foreseeable consequence of the subsequent breach at the time you made the contract. You are under a duty to mitigate any loss.

Under this, there are two types of compensatory damages- General Damages and Special Damages. General Damages- Also known as Ordinary Damages, these are the damages caused naturally due to contract breach. These damages are restricted to direct consequences arising due to unforeseen circ*mstances.

Common torts include:assault, battery, damage to personal property, conversion of personal property, and intentional infliction of emotional distress. Injury to people may include emotional harm as well as physical harm.

The majority of American jurisdictions do not allow punitive dam- ages for breach of contract unless the breach constitutes an independ- ent tort.

An award of compensatory damages is the most common of the legal remedies for breach of contract. The calculation of compensatory damages is based on the actual losses you have sustained as a result of the breach of contract. They typically fall into two categories: expectation damages and consequential damages.

There are three types of damage that form the foundation of most civil lawsuits: compensatory, nominal, and punitive. An attorney can estimate how much your claim may be worth based on your damages.