The nature of a loss resulting from a contract breach may be such as to entitle one party to a choice among two or more means to redress the grievance, where the choices are mutually exclusive. This is known as _____.
A) restitution
B) waiver
C) foreseeability
D) election of remedies
E) consequential damage

Question

Quizplus · Accepted Answer

The concept described in the question is known as election of remedies. This means that the non-breaching party has the right to choose between different remedies that are available to them in order to receive compensation for the loss resulting from the breach of contract. These choices are mutually exclusive, meaning that the non-breaching party can only choose one remedy to pursue. Examples of remedies that may be available include damages, specific performance, rescission, and reformation.

The Nature of a Loss Resulting from a Contract Breach