What are some of the damages and remedies available to me in a commercial dispute?
Depending on the circumstances of your case, the following remedies may be available to you if you prevail in your action:
1. Compensatory Damages – Money damages to reimburse you for financial losses incurred as a direct result of the breach or tort.
2. Consequential and Incidental Damages – Money damages to reimburse you for financial losses you incurred as foreseeable, but indirect result of the breach.
3. Liquidated Damages – Money damages agreed-to and written into a contract that would be payable in the event of breach.
4. Punitive Damages – Money damages awarded with the intention of punishing the party who acted in an offensive manner in an effort to deter others from engaging in the same wrongdoing.
5. Attorney fees and costs – These fees are generally only recoverable if the terms of the agreement specifically provided for them.
6. Rescission – A contract is canceled and both parties are excused from further performance.
7. Reformation – The terms of a contract are modified to reflect the original intention of the parties.
8. Specific Performance – A court order requiring a party to perform as set forth in the contract.