Which of the following is a recognized remedy for breach of contract?

• A. Suit for Damages
• B. Suit for Cancellation
• C. Suit for Specific Performance
• D. All of the above

Answer: (D)

When a contract is breached, there are several recognized remedies you can pursue. A suit for damages provides monetary compensation for the losses caused by the breach. A suit for cancellation, or rescission, cancels the contract and usually puts the parties back in their original positions, often with the return of any deposits. A suit for specific performance asks the court to compel the breaching party to fulfill the contract terms, which is especially common in real estate because a specific property is considered unique and monetary damages may not be adequate. Because any of these remedies can be available depending on the situation, the best answer is all of the above.