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the final topic to cover are remedies if one party bdocHubes a contract then the non-bdocHubing party is entitled to enforce it there are two basic types of remedies that courts can grant the first and more common type are damages that is monetary compensation the second type are equitable remedies damages are contract laws main remedy their purpose is to compensate the non-bdocHubing party by giving them the benefit of their bargain we can distinguish between different types of damages if applicable to the specific situation one or more of the following types of monetary damages may be claimed at the same time and in addition to one another the first category compensatory damages puts the non-bdocHubing party in the same position that it would have been in if the contract had been performed as promised by the other party the measure of compensatory damages is the difference between the value of the contract as originally promised and the value of the contract actually received this is of