Question

make a chart listing the types of remedies available under each type of interest. Then define each remedy. For example, Equitable Interest has three remedies: Specific Performance, Injunction, and Reformation. You would then define each remedy.

Answer 1

Remedy are available to the aggrieved party whether it is for breach of contract or for any tort. As when some interest is effected due to action of other then remedy came into existence. Generally there are two types of remedy that is : Legal remedies and Equitable remedies. However there is also restitution remedy which may be treated separately or otherwise. Firstly for the breach of contract we understand the legal remedies which is nothing but in the form of damages and then equitable remedies.

Legal remedies : They are called the Damages ,which are monetary compensation awarded to injured party by court for the loss or injury suffered by party due to breach of contract .it includes : 1. General damages : when the contract is breached then he is entitled to receive compensation or damages from the party who breached the contract only for the damage which naturally arose in the usual course of thing from such breach or which the party knows. Ex. Mr x. Claim profit and damages for late delivery of machinery part from delivery man. He can claim only damages not profit.

2. Special damages : This kind of damages can be claimed by aggrieved party where a party receives a notice of special circumstances. Ex. He can claim profit only if the delivery man knows that due to late delivery of machinery part work will stopped.

Punitive damages : when the loss suffered to one party due to negligence of other party then that damages can also be claimed by that party.

4.Liquidative damages : when a reasonable estimate of likely loss is known to both the parties in case of breach. And still if that contract is breached it will effect the interest of other party, now he is liable to pay damages. It is like pre-defined damages.

5. others: like Nominal damages : it just for formality. In reality there is no such real loss to party .it is just for acknowledging that the party who filled the case won the case.

Equitable remedies : This kind of remedies sometimes may be enforced through the court of Law but here damages in monetary terms are not paid : 1. Specific performance : where the interest of party is effected and at that time if court consider that damages are not an adequate remedy then court may direct the other party to carry out his promise as decided.

2. Injunction : This kind of remedy is available to an aggrieved party where the other party negating the terms of contract. Through this they can refrain him from doing what he promised not to do.

3. Reformation and rectification : Reformation means to reform the pre-decided terms. When a party do wrongful act against the terms then the other party have an option to rectify and reform it. Provided they can rectify the whole act not that party which in his favour only.

4. Quantum meruit and Restitution remedy : This type of remedy is available when the party injured by the breach had at a time of breach had done part work but not all. Then he may caller for charges for his work done. This is also called restitution remedy. Here we compensate to the party who hadn't done his work incomplete. So normally we call from them to pay but here we pay for his half work done by him provided original contract with him has been discharged and claim must be brought by party who is not in default.

5.Rescission: when one of party breach terms of contract then the other party will be free. It is also covered where party can demand damages.

However these all are points considered in case of contract however in case of tort their base is same. Tort is a civil wrong done by one party with other. This is either related to any person personally or related to its property. In case of person it may effect it's interest in economic terms like : business tort or there may be misuse of any personal thing. It may effect the diginity of any person like invasion of privacy. This all types are dealt in case of tort. However it is an illustrative list ,amendments and after any kind of problem arise there may be inclusion of new remedies that protect interest of aggrieved parties.