When you negotiated the terms of your business contract in Nevada, you probably had specific reasons for compromising on some areas, and holding firm on others. If any of those portions of the legal agreement were not upheld by the other party, it may have hurt your company in a number of ways. According to the University of Nevada Las Vegas William S. Boyd School of Law, there are several different types of remedies that you may be entitled to in order to correct the damages the breach caused you.
You may want to seek restitutionary remedies, which provide you with the benefits you lost as a result of the breach, or you may rather return to the position you were in before the contract was made, known as reliance remedies. If your best outcome is the fulfillment of the contract, you may seek expectations remedies, which put you in the position that you would have expected if the other party had not breached the contract.
Interest that has accrued on the amount of damages since the breach, or since the judgment, may be awarded in some cases. While you may seek as many remedies as are applicable to your case, or choose the one that benefits you the most, you cannot seek punitive damages. The goal of contract law is not to punish someone who breaches a contract, but to enforce the legal agreement. This information about breach of contract remedies is a general overview, and should not replace the advice of an attorney.
