Contractual remedies are a critical issue for both sides when commercial relationships go wrong – and, in an increasingly volatile economic and geopolitical climate, can become highly contentious. In this Fundamentals of Law session, we provide a comprehensive refresher of core principles governing remedies for breach of contract, tips on key practical considerations, and an update on how remedies are being applied by the English courts today.
What we will cover:
- The remedy "toolkit": what remedies are available under English law
- Liquidated damages, penalties and interest: what parties can and can't include in a contract
- Damages as the core remedy: the aim of damages, what claimants need to show and how damages are measured
- Termination: when does a right to terminate a contract arise and what steps does the terminating party need to take
- Equitable remedies (such as specific performance and injunctions) and the circumstances in which a court may grant these
- Practical implications: what boards should be thinking about before and after things go wrong