7.1 Remedies for breach overview S02Y24.pptx

Principles of Business Law Semester 2 2024 TOPIC 7: REMEDIES FOR BREACH OVERVIEW Contract law topics: overview (Test Two and Final exam) Topic 5: Topic 6: Topic 4: Identifying Contractual Formation of Contractua...

Principles of Business Law Semester 2 2024 TOPIC 7: REMEDIES FOR BREACH OVERVIEW Contract law topics: overview (Test Two and Final exam) Topic 5: Topic 6: Topic 4: Identifying Contractual Formation of Contractual Performance Contracts Terms and Breach Topic 8: Topic 7: Invalidating Remedies for Contracts Breach of (vitiating Contract factors) Remedies for breach: overview Common law remedies  Damages to compensate for loss  video 7.2  case study 7.3  Termination  video 7.4  case study 7.5 Equitable remedies  Specific performance  video 7.7  Injunctions  video 7.7 Statutory remedies  eg Sale of Goods legislation and the Australian Consumer Law (not examinable) Agreed remedies  Agreed terms of the contract regarding remedies Remedies for breach: Overview  The party suing is entitled to specify what relief they want. Sometimes this is a combination of remedies, such as terminating the contract and also claiming damages.  Sometimes a plaintiff asks for alternative remedies, e.g. specific performance, or if the judge is not willing to grant this, then damages.