Equitable remedies apply when monetary damages do not adequately satisfy the non-defaulting party. Some types of equitable remedies available are: Rescission which allows the non-breaching party to cancel their contractual responsibilities. Reform by which the parties can amend the contract to reflect what each party's responsibility will be. Finally, specific performance which is a court order requiring performance of the original contract by the defaulting party. On the other hand there are legal remedies which are monetary damages of one form or another that are awarded to the non-defaulting party. These remedies include punitive damages that are paid to the non-breaching party for full compensation and are also used to punish the offending party and to deter them from participating in that manner again (“Remedies Against,” n.d.). Consequential damages that will compensate the innocent party for the costs resulting from the violation. The non-breaching party is entitled to compensation for the violation. Liquidation damages are often awarded when it is difficult to determine the actual amount of damages received by a party due to a breach and to collect attorney's fees and costs incurred as a result of legal proceedings ("Remedies Against," n.d.). Some other remedies are cancellation and restitution which allow the non-defaulting party to cancel the contract and sue for restitution if the defaulting party has received benefits under the contract. Another remedy is nominal damages, consisting of small awards or tokens given to the non-defaulting party when a breach occurs and there is usually no actual monetary loss suffered by the non-defaulting party in this matter ("Remedies Against", n..