Breach of Contract - Business Law - Lecture Slides, Slides for Business Law. Aligarh Muslim University

Business Law

Description: Breach of Contract, Remedies for Breach, Restitution, Commonwealth Bank, Mistake of Law, Usual Remedy, Common Law Remedy, Loss or Injury, Commonwealth of Australia, Amann Aviation are key points from this lecture of Business law.
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Remedies for Breach of
Contract
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Remedies for Breach
Remedies
Damages
Recission Restitution Specific
Performance Injunction Quantum
meruit Anton Piller
order
Common law Equitable
remedies
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Remedies for breach - rescission
Rescission:
Does not require the intervention of the court.
Entitles the injured party to set the contract aside and is only
available for breach of a condition.
Substantial restoration must be possible as the injured party is
restored to their pre-contractual position.
The right to rescission is lost if the injured party:
continues with the transaction;
fails to act or act within a reasonable time; or
if an innocent third party acquires an interest in the subject
matter.
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Remedies for breach - restitution
Restitution:
Is based on the concept of unjust enrichment
and sometimes referred to as quasi-contract.
The plaintiff must establish:
the defendant must obtain a benefit or enrichment;
the benefit was at the plaintiff’s expense;
it would be unjust to allow the defendant to keep that benefit
or enrichment (Pavey & Matthews Pty Ltd v. Paul (1987));
and
the defendant has no defences to rely upon.
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