The remedies and damages that an aggrieved party can claim in a breach of contract lawsuit will be a function of the contract itself. Potential remedies include:
Specific performance, which is an equitable remedy that the court orders to require a party to fulfill its promises under a contract
Money damages to give an aggrieved party the benefit of the bargain promised in the contract
Where the contract includes a liquidated damages provision, the sum of money specified in that provision
In extreme situations where the complete purpose of the contract has been frustrated, rescission of the contract with both parties being returned to the positions they held before executing it.
Contract remedies are distinct from damages that may be available for a business tort. For example, a party might claim that he or she was fraudulently induced to enter into a contract by false promises or worthless guarantees. In that event, the party will have a damages claim for losses the party suffered due to the fraud.