Redress: remedies for broken contracts

Abstract

This chapter outlines how contract law provides redress when promises are broken. It explains the main remedies—expectation damages, damages measured by other than expectation, specific performance, termination, and agreed remedies—and the principles that govern their application. The analysis distinguishes between putting claimants in the literal or money positions they would occupy had contracts been properly performed, allowing a party to walk away, or determine their own remedies. It discusses how remedies balance corrective justice, efficiency, and administrability. The chapter concludes by looking at how digital technology challenges traditional remedies.