Contracts represent agreements that keep businesses moving forward. When one or both parties in a contract have a dispute, it can invite loss of productivity and serious legal repercussions.
What is a Breach of Contract?
Contract is one of the most common terms used in day to day business activities. A contract is basically a legally enforceable document that is agreed upon by two or more parties that are engaging with one another for one’s services or products. A contract is typically made up of the terms and conditions that both companies agree to abide by and will often outline the specific duties that will be undertaken by each party and the amounts that will be paid in return for these services.
In case of a failure to act or abide by the rules of the contract, one party or parties can take the other to court over a breach of contract.
Here are a few ways contracts can be breached:
- The primary term in the contract is breached by the party
- The party does not perform the act or service agreed upon in the contract
- The party refuses to oblige by the terms of the contract having signed it
- The party restricts or limits the other party’s performance of the contract
Benefits of Taking a Breach of Contract Action
When a party enters into a contract, they have specific date for the start and end of the contract. Contracts are time specific and a company can plan their future line of action based around the details of the contract. This means that a company may depend on the service or money promised as part of the contractual arrangement. Breach of contract can bring them irreparable damage, which is why it is important to fight an action against breach of contract. Here are some benefits of starting a breach of contract action.
· Get Monetary Relief
Breach of contract can hurt the finances of a business the hardest. This is why courts are quick to award damages to parties that have fallen prey to a breach of contract. Damages are basically money compensation, and typically the amount of damages awarded corresponds to the loss suffered. Using a good lawyer will help the business get a higher award for damages.
· Force the Other Party to Perform
Sometimes monetary compensation is not enough. For a school that is about to open, damages will not do in places of chairs and tables for the students. In such cases, lawyers can push the courts to order a specific performance i.e. forcing the other party to perform in letter and in spirit as agreed between the two parties.
What Can You do?
You need to go for an experienced and competent law firm that is well versed with breach of contract litigation in the area. Now land Law is experienced in facilitating the resolution of contract disputes. We are committed to searching for time and cost efficient ways to aggressively defend your rights. In many cases, these issues can be settled before court action.
If you want to avoid getting into a court action, because you fear for the reputation of your company, mediation is a good way to settle the case out of court. In some cases, before you go to court, the lawyers from both parties will sit down for a consultation and ideally the two parties can compromise and settle the breach of contract case at this stage before going into a trial.
However, when a dispute reaches the litigation stage, now land Law works tirelessly to defend your position and facilitate the desired outcome. Request a Case Evaluation about your Breach of Contract matter today.
There is more to Business Litigation than Breach of Contract. Here are some other practice areas the attorney team at Nowland Law is able to help you out with.
Request a Case Evaluation about your Breach of Contract matter.