election of remedies
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election of remedies
The necessity that injured parties make a selection of only one method of being compensated for their loss,rather than collecting multiple times in different ways.For example, if a certain lender behavior is a violation of the Equal Credit Opportunity Act and of local laws, the borrower may recover damages under one law,but not under both.In addition,some courts hold that when a seller breaches a contact to sell real estate, the buyer must choose between suing for damages or suing to force the seller to proceed with the sale. This does not prevent parties from suing for as many different theories as their lawyer can imagine,but they can have only one remedy at the end of the trial. (The concept of election of remedies is similar to the concept of double jeopardy—one can't be punished twice for the same wrong.)