Part Four Compelling performance or preventing (or compelling the undoing of) a wrong, 21 The award of an agreed sum

Subject(s):

Breach of contract — Performance of contract — Reliance damages

The award of an agreed sum is a remedy that protects the promisee’s expectations by enforcing the defendant’s contractual promise to pay a sum of money. The remedy can be regarded as a hybrid, being like damages in that it is common law and monetary but like specific performance in that its function is to compel performance of a positive contractual obligation. This chapter examines the award of an agreed price, the award of an agreed sum payable on breach (and, within that section, the important recent case law on liquidated damages and penalties), and the award of an agreed sum (other than an agreed price) payable on an event other than breach.