When two parties enter into a contract, it creates a legally binding agreement that obligates them to perform certain duties and fulfill specific terms. However, sometimes one or both parties may fail to meet the obligations outlined in the contract, resulting in a breach of the agreement. In such cases, damages may be awarded to the injured party as compensation for any losses incurred. Here are some of the types of damages that may be available in the event of a breach of contract:

1. Compensatory Damages: These are the most common type of damages awarded in breach of contract cases. Compensatory damages are designed to compensate the injured party for any losses suffered as a result of the breach. For example, if a contract for the sale of goods is breached, the buyer may be awarded compensatory damages for any financial losses incurred as a result of the goods not being delivered.

2. Consequential Damages: Also known as special damages, consequential damages are awarded when the injured party suffers losses that were a direct result of the breach, but are not specifically covered in the contract. For example, if a contractor is hired to build a new home, but fails to complete the project on time, the homeowner may incur consequential damages such as additional living expenses incurred while waiting for the home to be completed.

3. Liquidated Damages: In some contracts, the parties may agree to a specific amount of damages that will be paid in the event of a breach. These are known as liquidated damages and are included in the contract to provide a predetermined measure of damages in the event of a breach. For example, if a contract for the sale of a business includes a clause that states that the buyer will pay a penalty of $10,000 per day for every day past the closing date, then the buyer will be liable to pay that amount in the event of a breach.

4. Punitive Damages: These are awarded in cases where the party that breached the contract acted intentionally or with gross disregard for the other party`s rights. Punitive damages are designed to punish the breaching party and to deter them from engaging in similar behavior in the future.

5. Nominal Damages: In cases where the injured party suffered no actual financial loss as a result of the breach, they may still be entitled to nominal damages. Nominal damages are awarded as a symbolic recognition that a legal right was violated, even when the actual losses suffered were minimal.

In conclusion, breach of contract cases can be complex, and the types of damages that may be awarded will depend on the specific circumstances surrounding the breach. However, being aware of the different types of damages available can help parties to a contract better understand their legal rights and obligations, and to seek appropriate compensation when a breach occurs.