Types of Damages and Equitable Remedies for Breach of Contract

The video tutorial discusses the types of damages and equitable remedies available in cases of contract breaches. It covers compensatory damages, including expectation and consequential damages, as well as liquidated and nominal damages. The video also touches on the rare use of punitive damages in contract law. Additionally, it explains equitable remedies such as specific performance, rescission, and contract reformation, which aim to ensure fairness between parties.

What are the two types of compensatory damages mentioned?

Explain the concept of liquidated damages in contract law.

What are nominal damages and when might they be awarded?

Describe the circumstances under which punitive damages may be awarded.

What is specific performance as an equitable remedy?

How does rescission of a contract function as a remedy?

What is the purpose of reforming a contract in the context of equitable remedies?