When two different parties come in a contract and it is breached by one party, then there is a right to two different types of remedies for the suffering party. These are legal remedies and equitable remedies. In equitable remedies, there are options such as reformation, rescission, and specific performance. In legal remedies, there are options such as compensatory damages, liquidation damages, punitive damages, and attorney costs and fees. Huang will have the right of claiming legal remedies as equitable remedies cannot be applied due to the breach of contract. Legal remedies often end up forming as monetary damages, which are awarded for providing assistance in creating wholeness of the innocent party. Compensatory damages are the ones for providing compensation to the affected party for the breech. These are inclusive of consequential damages and expectation damages. Expectation damages are the ones providing monetary funds to the breaching party that might have been received by him in the performance of the contract. Most of the times, these damages are on the basis of the contract itself or the fair value of market under the subjectivity of the contract.
In context with the case provided, Huang holds the right of claiming the expectation damages that are at the value of 150,000 dollars as this is the amount that he would have used in performing as per the terms and conditions of the tender.
As identified in this paper, Huang has the right of claiming for the loss of damage that he borne as a result of the delay in completion of project by Bill that is 150,000 dollars. A number of different clauses related to the contract law have been discussed in the paper to support this answer. Also, theoretical evidence has been provided regarding the validity of the contract and the breach of contract. In addition, the paper has discussed about two case laws having similar facts to support the answer as required for the case study provided.
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