- Performance of contract — Termination/unwinding of contract — Obligations of the buyer — Obligations of the seller
This chapter focuses on the situation where the innocent party with an option to terminate the contract instead decides to affirm it. What are the obligations of the innocent party in that situation and what are its rights? In particular, what remedies may the innocent party be entitled to in the event that it decides in effect to carry on with the contract? Broadly speaking, the innocent party affirming the contract would be required to continue performing its own primary obligations under the contract and would be entitled to sue for damages for losses caused by the other party's breach. However, the remedy of greater significance by far usually concerns the other party's continuing obligations, which the innocent party might be able to seek to enforce through an action for an agreed sum (the price) if they were money obligations or an order for specific performance if they involved non-monetary acts of performance.
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