legal remedies
Definition
Legal remedies are the solutions a court can order when someone has wronged you or broken a contract. Most of the time this means money damages, where the other party has to pay you for the harm they caused. Courts can also sometimes order someone to actually do something or stop doing something, but cash payment is by far the most common fix.
Example
If a supplier breaks your contract and you lose $10,000 in sales, a court could order them to pay you that $10,000 as a legal remedy. That payment is meant to put you back in roughly the same financial position you would have been in if the problem never happened.
Watch Out
The law expects you to take reasonable steps to limit your own losses after something goes wrong, so sitting back and letting damages pile up can reduce the amount a court will actually award you.
See which terms appear in your contract?
This definition is for informational purposes only and does not constitute legal advice. Please consult with a licensed attorney for legal guidance.