Damages
When a party to a contract breaches their obligations under the agreement, they may be liable for damages. Damages are typically awarded to the non-breaching party as a way to compensate them for any losses incurred as a result of the breach.
There are two main types of damages that may be awarded in a contract dispute: compensatory and punitive. Compensatory damages are intended to reimburse the non-breaching party for any losses suffered as a result of the breach. This could include things like lost profits, damaged property, or medical expenses. Punitive damages are less common, but may be awarded in cases where the breaching party acted intentionally or recklessly. These damages are meant to punish the breaching party and deter future bad behavior.
In some cases, it may also be possible to recover attorney’s fees and other costs associated with pursuing a breach of contract claim.