Insurance 101 – Chapter 16 Volume 24 – Remedies When The Contract Can be Voided

 Remedies When The Contract Can be Voided

When one party has been injured by a breach of contract and lacks the ability or the desire to keep the contract alive, the party can choose between two different remedies. The party can treat the contract as rescinded and recover damages resulting from the rescission, or the party can treat the contract as repudiated by the other party and recover damages to which he or she would have been entitled had the other party not breached the contract or prevented the performance.

The following video was adapted from my book, “Insurance Claims A Comprehensive Guide” Published by the National Underwriter Company and is available at the Zalma Insurance Claims Library

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The author and publisher disclaim any liability, loss, or risk incurred as a consequence, directly or indirectly, of the use and application of any of the contents of this blog. The information provided is not a substitute for the advice of a competent insurance, legal, or other professional. The Information provided at this site should not be relied on as legal advice. Legal advice cannot be given without full consideration of all relevant information relating to an individual situation.

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