Asked by Shanelle States on May 14, 2024
Verified
A contractual remedy is optional unless the parties expressly agree that it is to be exclusive.
Contractual Remedy
A legal solution designed to address a breach of contract, aiming to compensate the injured party.
Exclusive
Referring to rights, agreements, or deals that are restricted to the involved parties, preventing others from participation.
- Learn how the contract terms and conditions can affect the available remedies and limitations on damages.
Verified Answer
MJ
Mystic JewelMay 16, 2024
Final Answer :
True
Explanation :
Contractual remedies are generally considered optional and parties can seek other remedies unless the contract explicitly states that the agreed-upon remedy is exclusive, limiting the parties to that specific remedy.
Learning Objectives
- Learn how the contract terms and conditions can affect the available remedies and limitations on damages.
Related questions
The Contract Between the Buyer and the Seller Can Provide ...
A Contract Clause That Excludes Liability for Willful Misconduct Is ...
A Restrictive Covenant Imposed as Part of a Sale of ...
Between Parties in Equal Bargaining Positions, a Contract Provision That ...
There Is a Remedy Available for Nearly Every Breach of ...