Remedies for Breach of Contract

Introduction When one thinks about “Remedies” in any form of contract, the only Latin maxim that comes to mind, “Ubi Jus Ibi Remedium” which denotes that where there is a right there is a remedy. There is no value of a contract, being the foundation head as a set of rights and obligations to the parties if there had been no remedies to enforce the rights. The party committing the breach of contract is called the guilty party and the party bearing the loss caused due to the breach is…