Sample of Legal Remedy

(c) Pennsylv an ia Real Estate RecoveryFund. A RealEstateRecoveryFund exists to indemnify any person who has obtained final civil judgment against a Pennsylvania real estate licensee for fraud, misrepresentation or deception in a real estate transaction and who has been unable to recover the judgment after exhausting all legal and equitable remedies. For detailed information about the fund, call (717) 783-3658 or (800) 822-2113 (in Pennsylvania) and (717) 783-4854 (outside Pennsylvania). Failure to comply with the fiduciary standards of conduct and other applicable requirements of the ERISA and the Code may result in civil penalties and subject trustees to damages or equitable remedies. If an investment in our common shares is a prohibited transaction under the ERISA or the Code, the trustee who approved or directed the investment may be subject to excise taxes on the amount invested. In the case of a prohibited transaction involving an IRA owner, the IRA may lose its tax-exempt status and therefore the full value of the IRA would be deemed to be distributed to the IRA sponsor and taxable. Plan trustees should consult with their own legal counsel before investing in our common shares. The acceptor, whom we will refer to below as the non-breaching party, is entitled to compensation (an allowance of money) if necessary to make it complete if the other party has breached the contract, unless the contract itself or other circumstances suspend or satisfy this right. Damages refer to money paid from one side to the other; It is a legal remedy. For historical and political reasons in the development of the English legal system, the courts could originally only award monetary compensation. If an applicant wanted anything other than money, a separate justice system had to be used.

Courtrooms and hearings were separate. This real separation is long gone, but the distinction is still recognized; A judge may be described as “sitting in the law” or “sitting in equity,” or a case may involve both monetary claims and actions. We are seeking compensation for damages first. 4.12 Extrajudicial Remedies. The Secured Party may enforce its rights under this Agreement without prior judicial process or judicial hearing, and the Debtor expressly waives any statutory right that might otherwise compel the Secured Party to enforce its rights in court. By providing for out-of-court remedies, the debtor acknowledges that such remedies are consistent with commercial usage, meet commercial needs and are the result of negotiations under normal market conditions. Nothing herein shall prevent the Secured Party from resorting to legal process in its sole discretion. The doctrine of choice of reparation has been rejected by the UCC, meaning that reparations are cumulative in nature.

In § 2-703 Abs. Article 1(1) provides: `Whether the continuation of one action excludes another depends entirely on the circumstances of the case`. Article 2-721 of the CDU provides that neither the request for cancellation of the contract in case of misrepresentation or fraud, nor the return or refusal of goods, exclude any claim for damages or any other remedy for non-fraudulent breach authorized by the CDU. Both general categories of remedies are legal and fair. In the first category are damages, consequential, incidental, nominal, liquat and (rarely) punitive damages. The latter category includes, where remedies are inadequate, specific enforcement, injunction and reimbursement. In the event of an appeal, the non-offending party may receive financial damages. On the other hand, a party may receive equitable relief if a court requires the other party to perform its part of the contract. This replaces the imposition of a fine. 9. Remedies.