Breach Of Contract
In the business world it’s common that disputes or arguments come up and have to be resolved. A lawsuit is a common remedy. There are many reasons that keep a business contract from being completed, but the one thing that remains is that hiring an experienced Breach of Contract Attorney is critical.
What’s A Contract?
A business contract is such that lays out the obligations that must be met by all parties/companies that are included in the contract. Unexpected problems, delays, pecuniary issues, etc. can arise that keep a certain member of the contractually bound parties from fulfilling their agreement. A party’s failure to perform the duties outlined in the contract is what is called the “breach of contract.” And, as mentioned above,
So What’s A Breach?
Depending on the specificity of the contract, a breach can come in many different forms. It can result when one (or more) parties fail to meet deadlines, the terms, or just doesn’t perform the duties at all. Usually, the remedies will also be outlined in the contract to lay out what are material or immaterial breaches.
Remedies can include: damages, compensatory damages, punitive damages, liquidated damages, specific performance, or cancellation and restitution. To learn more about the different remedies, you can check out Strom Law’s post on the issue.
If you or your company have been affected by a breach of contract, please reach out to an attorney that will help to figure out what remedy is due to you. Let us help you and protect you from being further damaged by someone else’s inability to live up to agreed upon terms.