The phrase "put the parties where they would’ve been" refers to which legal concept?

The phrase "put the parties where they would’ve been" is rooted in the fundamental principle of remedies for breach of contract. This principle seeks to restore the aggrieved party to the position they would have occupied if the contract had been fulfilled as agreed. The intent is to provide compensation that reflects the actual loss suffered due to the breach, thus allowing the non-breaching party to "stand in the shoes" they would have been in had the contract been honored.

In the context of contract law, remedies can take various forms, such as monetary damages or specific performance, but all are fundamentally aimed at achieving this restorative goal. The focus here is on compensating for losses incurred due to the failure of the other party to fulfill their contractual obligations, rather than administering punitive measures or enforcing provisions that might not reflect the actual loss experienced. Therefore, this concept encapsulates the essence of remedies designed to put the non-breaching party back in the expected position.