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Unit 21 P7 Describe the available remedies for a breach of contract
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Unit 21 P7 Description of the available remedies for a breach ofcontract
Introduction
In this final assignment of this unit I will be
writing about the remedies that are provided
by the earlier explained customer protection
acts. What remedies can the injured party be
provided with, and how are they applied?
Remedies
A remedy is a given compensation, a solution, if one of the parties breaks
the terms, it is usually in the form of damages, and there are two types of
these remedies:
1. Liquidated remedies, the amount of damages that will need to be
paid is stated before signing the contract and doesn’t need to be
discussed when one of the parties breaks the terms. For example, a
pizzeria that works with the rule if they don’t deliver the pizza within
a certain period of time, the pizza is free. Both parties are familiar
with this term beforehand.
2. Unliquidated remedies, these remedies weren’t agreed on prior to
the agreement and only cover the compensation to put the person in
the position of the process was carried out correctly. Damages are
given if the second party suffered from financial loss, injury,
property damage, distress and disappointment. But not every kind of
loss can be covered. For example, I fall off a hired bike, and break
my leg, and I didn’t determine the remedies with the first party
beforehand. I develop a long term injury and I am not able to
function like I would normally do, the court needs to determine if I
am intitled to damages in money.
- However the injured party
may must mitigate the
loss, they may not basically
stand back and look at the
problem getting worse. The
second party need to show
action into making the
problem smaller, adapt to
the problem. When I as a
drugstore owner, for
example, suffer from a loss in sales, because the supplier failed to
deliver the goods on time, I need to look for other options to reduce my
loss.
- And even if the to be delivered goods get rejected, due to
unavailability, or they got send back due to poor quality, the injured
party is still allowed to claim damages, they do not need to be in
possession of the bought goods. For instance, if I buy a car and the
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