Damages for Breach of Commercial Contract

Summary

This practice note discusses the categories of damages available to a contracting party for breach, including compensatory/actual, general/direct, consequential/special/indirect, incidental, punitive/exemplary, and liquidated damages. It also covers contractual damage limitation provisions, including consequential damages waivers, liability caps, indemnification provisions, cumulative remedies clauses, equitable remedies clauses, and liquidated damages clauses. For a checklist of damages for breach of commercial contract, see Damages for Breach of Commercial Contract Checklist.