Damages and Other Remedies
Although arbitration awards are characteristically an award of damages against a party, tribunals usually have a range of remedies that can form a part of the award.
- the tribunal may order the payment of a sum of money (conventional damages)
- the tribunal may make a "declaration" as to any matter to be determined in the proceedings
- in most jurisdictions, the tribunal has the same power as a court to:
- order a party to do or refrain from doing something ("injunctive relief")
- to order specific performance of a contract
- to order the rectification, setting aside or cancellation of a deed or other document.
Read more about this topic: Arbitration Award
Famous quotes containing the words damages and, damages and/or remedies:
“According to the law of nature it is only fair that no one should become richer through damages and injuries suffered by another.”
—Marcus Tullius Cicero (106–43 B.C.)
“According to the law of nature it is only fair that no one should become richer through damages and injuries suffered by another.”
—Marcus Tullius Cicero (106–43 B.C.)
“Fear, coercion, punishment, are the masculine remedies for moral weakness, but statistics show their failure for centuries. Why not change the system and try the education of the moral and intellectual faculties, cheerful surroundings, inspiring influences? Everything in our present system tends to lower the physical vitality, the self-respect, the moral tone, and to harden instead of reforming the criminal.”
—Elizabeth Cady Stanton (1815–1902)