What is breach of contract and what are some remedies to it?

A breach of contract occurs whenever a party who entered a contract fails to perform
their promised obligations. In this case, either party to a contractual agreement fails to
perform according to the terms of the contract, the other party may take legal action.
The party who fails to perform is referred to as the breaching party. There is a civil
lawsuit for breach of contract may be filed to obtain a remedy for the breach. Some of
the remedies are award damages, restitution, rescission, reformation, and specific
performance. In businesses, they use some of these remedies because its important for
the business to make sure the non-breaching party, “injured party,” whole by placing
them in the position they would have otherwise been in had the contract been
performed as agreed.