The remedies available to a plaintiff in an Ohio breach of contract case depend on the terms of the contract. The most common remedy is money damages, but the plaintiff may in some circumstances pursue rescission, specific performance or injunctive relief, either in lieu of or in addition to money damages. As a preliminary matter, the non-breaching party should generally notify the other of a breach as soon as possible. Failure to timely notify the breaching party may preclude or limit recovery in some cases.
In calculating money damages for a breach, a court may use different formulas in different cases. The breaching party is not necessarily liable for the entire value of the contract. Sometimes damages are limited to the actual loss suffered by the injured party. For example, if a person contracts to buy an item for $500,000 and fails to perform and the item is able to be sold to another buyer for $450,000, a court will likely award $50,000, rather than $500,000, in damages, plus any other damages the seller may have suffered due to the delay.