The answer to this question may vary depending on your jurisdiction.
In general, at common law, breach of contract remedies come in two flavor: legal, and equitable.
Equitable remedies evolved...
The most common remedy for a contract breach is damages, which is a substitutionary remedy and a remedy at law. Damages usually take the form of money paid by the obligor to the obligee to make the...
There are several: 1. Recission, where the contract is cancelled, both parties excused, and any advance payments are returned,2. Reformation, where the contract is altered to reflect what was...