Are equitable remedies available to a plaintiff?
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A court will typically award equitable remedies when a legal remedy is insufficient or inadequate. For example, courts will typically award equitable relief for a claim which involves a particular or unique piece of real estate, or if the plaintiff requests specific performance.
Do equitable remedies involve money?
Legal remedies are ones that allow the party not in breach to recover money, whereas equitable remedies involve resolution through non-monetary solutions. Equitable remedies are actions rather than a financial award.
What is an example of an equitable remedy?
An injunction is another equitable remedy, which directs someone to stop doing something he or she shouldn’t do. For example, an employer and employee sign a non-compete agreement. After the employee leaves the employer, he breaches the contract by competing with his former company.
What is an equitable remedy in contract law?
On the other hand, equitable remedies are actions that a court must prescribe. They are often used in order to help resolve a substantial breach or contract dispute when money damages would be considered insufficient to resolve the issue or protect the parties from harm.
In which of the following circumstances would a court most likely award specific performance?
The most common reason courts grant specific performance is that the subject of the contract is unique, when it’s not merely a matter of money or where the true amount of damages is unclear. When a contract is for the sale of a unique property, for instance, mere money damages may not remedy the purchaser’s situation.
What is meant by equitable remedies?
Equitable remedies are broad in scope, flexible, direct in application and supplement the common law. Unlike common law remedies, equitable remedies are not constrained by concepts such as remoteness of damage or causation, thereby enabling equity to go beyond the common law in redressing loss and damage.
What is the purpose of equitable remedy?
Equitable relief, also referred to as an equitable remedy, is a type of court-ordered relief for an aggrieved party that is used when ordinary legal remedies – such as awarding damages – are considered inadequate justice for the suffering party.
What is the purpose of an equitable remedy?
What are equitable remedies law?
The most important equitable remedies are decrees of specific performance and injunctions. Under an order of specific performance, one party to a contract is ordered to perform their contractual obligations. An injunction is a court order to a party to refrain from doing, or possibly to do, a particular act.
What is equitable remedy in civil procedure?
The remedy resulting from a claim of estoppel. Equitable relief is distinguished from remedies for legal actions in that, instead of seeking merely monetary damages, the plaintiff is seeking that the court compels the defendant to perform a certain act or refrain from a certain act.
What equitable remedies can a court grant and in what circumstances will a court consider granting them?
Equitable remedies include rescission and restitution, specific performance, and reformation. The basic requirements for performance to qualify as substantial performance are as follows: The party must have performed in good faith. Intentional failure to comply with the contract terms is a breach of the contract.
How does a court decide on equitable remedies?
A court may decide on equitable remedies when it believes a simple payment of damages isn’t good enough to settle the case. A common type of equitable remedy used in the case of unique goods is called “specific performance.”
What are legal remedies in contract law?
Legal remedies include consequential and compensatory damages. These are designed to allow the aggrieved party to recover financial loss resulting from the breach. Instead of imposing a fine, equitable remedy is when the court orders the defendant to complete a contract as originally agreed.
What are equitable remedies for unique goods?
A common type of equitable remedy used in the case of unique goods is called “specific performance.”. In this type, a court orders the breaching party to fulfill the exact terms of the agreement. For example, you run an art gallery. It’s contracted to display a piece by a well-known artist in an upcoming exhibition.
What is an equitable remedy for breach of contract?
Contract Rescission and Reformation 5. Total Nonperformance by Breaching Party What is an equitable remedy? This is an action the court chooses to address a breach of contract. It is designed to return the aggrieved party to its original position or in the same position as if the breach had not occurred.