A Brief Discussion on Remedies and Mitigation

Ancy P Anto

Abstract

Contract law relies heavily on the notions of remedies and mitigation to handle contract violations and lessen the damage they cause. The non-breaching party has the right to seek remedies to make up for the harms experienced when the breaching party does not uphold its contractual duties. Restoring the aggrieved party to the position they would have been in had the breach not happened is the main goal of remedies. Different types of relief are available, such as monetary damages, specified performance, and contract revocation. In addition to these fundamental remedies, some circumstances can allow for the availability of other choices including liquidated damages, nominal damages, and punitive damages. To stop future injury or undo unfair enrichment, one may also seek equitable remedies like injunctions and reparations. Parties engaged in commercial disputes must comprehend the fundamentals of remedies and mitigation. Parties may more successfully negotiate the complexity of contract law and seek appropriate remedies if damages are properly assessed, the obligation to mitigate is upheld, and legal choices are aware of. Contract law encourages justice, recompense, and the speedy settlement of contractual violations by enforcing remedies and using mitigation.