A contract has been defined as the meeting of the minds between the parties whereby one of the contracting parties obligate himself to perform certain acts or render service in favor of the other. The agreement embodied in the contract is the law between the parties. The provisions contained therein, the stipulations, terms and conditions must be enforced and faithfully complied with in order to steer clear of liabilities and possible legal sanctions. Non-compliance with the terms and conditions agreed upon, entitles the party who has complied with his or her obligation to resort to remedies available under the law. Remedies for breach of contract may be embodied within the letters of the contract itself or in the absence of specific provisions in cases of breach, the applicable laws will supply the remedies. What then are the most common remedies for breach or violation of contract agreement?

The most common remedy in general for breach of contract is an action for specific performance whereby the erring party will be compelled by the party against whom the violation was made, to comply with the stipulations as agreed upon, if still plausible. Another remedy if specific performance is no longer possible is the rescission of the contract wherein the parties will agree to annul the agreement instead. In both remedies mentioned, award for damages can be rightfully claimed.

Hence, care should be taken in understanding the import of the contract being entered upon as this has the force and effect of law between the contracting parties. As far as practicable, take the necessary care and caution in performing or complying with the terms agreed upon to sidestep obligations and to evade possible law suits.

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John Luke Matthews is a regular contributor of relevant articles about the jurisprudence of businesses. He is part of the Mesriani Law Group and is currently taking information technology studies as well.

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