What are the remedies for breach of contract?
An example of an AI chatbot conversation about breach of contract remedies.
What are the remedies for breach of contract?
The main remedies for breach of contract include damages, specific performance, and rescission. Would you like to know more about each?
Yes, please explain damages.
Damages are monetary compensation awarded to the injured party. They can be compensatory, punitive, or nominal. Do you want details on each type?
What is specific performance?
Specific performance is a court order requiring the breaching party to fulfill their contractual obligations. It's often used in unique situations, like real estate transactions.
Can you give an example of rescission?
Sure! Rescission cancels the contract, returning both parties to their pre-contractual state. For instance, if a contract was signed under false pretenses, it can be rescinded.
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