What is the legal term for monetary compensation sought for breach of contract?

The term for monetary compensation sought for breach of contract is compensatory damages. Compensatory damages are intended to provide the injured party with a monetary equivalent to the loss they suffered as a direct result of the breach. These damages cover various forms of loss, including both direct losses (like lost profits or expenses incurred) and consequential losses that arise directly from the breach (such as lost opportunities).

This concept is rooted in contract law, which aims to put the non-breaching party in the position they would have been in had the breach not occurred. This approach emphasizes fairness and restitution, ensuring that the party who was harmed is adequately compensated for their losses.

Other forms of damages, such as punitive damages, are related to wrongful conduct and are intended to punish the breaching party and deter future misconduct rather than to compensate the non-breaching party. Monetary judgment and contractual damages are not standard legal terms associated with the concept of compensation for breach of contract, which supports the validity of compensatory damages as the correct answer.