What is the usual remedy for a breach of contract?

In contract law, the usual remedy for a breach of contract is to sue for damages. This approach aims to provide compensation to the party that was harmed by the breach, allowing them to recover the financial losses incurred as a result of the other party's failure to perform their contractual obligations.

The foundation of this process is to make the injured party whole, meaning they should be placed in the position they would have been in had the breach not occurred. This often includes direct losses, consequential damages, and sometimes reliance damages, depending on the specifics of the case.

In the context of the other choices: negotiating a settlement is generally a step taken before litigation and not always considered a direct remedy for a breach. Canceling the contract may occur in some situations, but it does not typically address the need to compensate the affected party for losses already incurred. Seeking punitive damages, while possible in specific cases involving willful misconduct or gross negligence, is not the standard remedy in most breach of contract scenarios, as punitive damages are designed to punish the wrongdoer and deter future misconduct rather than compensate the aggrieved party.