What are the Remedies for a Breach of Contract of SCR Standard Foms?
Firstly, the SCR standard forms encourage disputants to settle their contract disputes instead of expensive/lengthy/uncertain of outcome litigation/appeals.

The SCR standard forms require an attempt at voluntary mediation settlement prior to litigation proceeding.

Parties can self settle or mediate a settlement. Lawyers are not needed to mediate settle.

Mediators are independent third parties who are trained to help parties reach a settlement. Mediators do not try the case. Mediators do not decide who pays what to whom.

SCR and NAR periodically host mediation training.

SCR mediation training is May 30, 2014 and NAR mediation training is July 16-18, 2014.

In mediation, the parties decide how they parties want to settle. The parties write down their settlement agreement and sign their settlement.

If a party later reneges, the other party can get a judge to issue a declaratory judgment. Judges support mediation because it is an alternative dispute mechanism to help keep their valuable docket time available for trying issues of fact. So, the declaratory judgment is virtually automatic and therefore mediation settlement easily has the force of law.

If the parties cannot reach a voluntary mediation settlement, the parties hire law firms and proceed to expensive/lengthy/uncertain of outcome litigation.

If a dispute goes to trial, the SCR forms provide for all remedies under law and equity.

That means remedies can include actual damages

[e.g. (for the buyer:  expenditures made to get to closing such as closing attorney fees, title work, appraisal, home inspector, HVAC inspector, pest inspector, surveyor, roof inspector, environmental inspector, structural engineer, contractor, private investigator for off site issues and history of property/neighbors, lawn/tree inspector, roof inspector, dock inspector, loss of enjoyment and use, expected profit) and (for the seller costs to get to closing such as closing attorney fees, certain contractor work made for the contract, lost opportunity, lost profit)].

It also means that specific performance is an equitable remedy (e.g. force seller to sell or force buyer to buy).

Importantly and a big reason to settle is instead of the risks of expensive/lengthy/uncertain of outcome litigation, the SCR standard forms allow prevailing party to receive reimbursement for their attorney fees from the prevailing party (aka loser pays).

Posted by : Byron King