Final answer:
The purpose of contractual remedies is indeed to restore the nonbreaching party to the position they would have occupied if there had been no breach, which is a true statement. These remedies underpin the legal system's role in upholding agreements and fostering a stable economic environment.
Step-by-step explanation:
The statement that the purpose of contractual remedies in a breach of contract case is to put the nonbreaching party in the position they would have been in had there been no breach is true.
Contractual rights are often tied to property rights and provide the framework for individuals to enter into agreements over the use of their property with the reassurance of legal recourse in the event of noncompliance.
For instance, if a surgeon performs a surgery with the expectation of being paid and then the patient fails to pay, this would be seen as a theft of the surgeon's property, being the services provided. In such cases, the surgeon has the right to seek remedies through the legal system to obtain the owed payment, underscoring the role that contractual remedies play in enforcing agreements and maintaining economic stability by reducing the risk associated with transactions.