The five main categories of remedies for breach of contract are:
Restitution: restores injured party to the position they occupied before the contract. Reformation: when a court reforms the contract to correct any inequities. Specific performance: the breaching party has to perform their duties as specified by a contract in a good faith. This is typically used when money damages are not adequate. Money damages: refer to financial payments the breaching party must make for violating the contract’s terms. there are two different types of money damages, compensatory and punitive damages. Rescission: contractual obligations on both sides are terminated by the court.