What are some potential remedies for a breach of contract?

The correct answer highlights potential remedies specifically designated for addressing a breach of contract, which are foundational concepts in contract law.

Damages refer to monetary compensation awarded to the non-breaching party for losses incurred as a result of the breach. This can include compensatory damages that cover direct losses and sometimes consequential damages that account for losses that occur as a foreseeable result of the breach.

Specific performance is an equitable remedy wherein the court orders the breaching party to fulfill their obligations under the contract. This is often applicable in cases where the subject matter of the contract is unique, such as real estate transactions, where monetary damages would not suffice to remedy the breach.

Rescission entails the cancellation of the contract, releasing both parties from any obligations under the contract due to certain circumstances such as misrepresentation, fraud, or mutual consent to terminate the agreement. This remedy aims to restore the parties to their pre-contractual position.

These remedies are well-established within contract law and are typically sought by the injured party to enforce their rights or receive appropriate compensation. The other options present alternatives or outcomes that do not systematically address breaches in the same legal context as damages, specific performance, and rescission do. For example, criminal charges relate to unlawful actions, while future negotiations