Organizations and individuals enter into contracts every day. Some are as simple as the exchange of money for goods or services. Others are more complicated. They may last indefinitely or for a specified time period. A contract may require that one of the parties engages in a particular behavior or refrains from that behavior. When one of the parties fails to live up to this responsibility, then the services of a Breach of Contract Lawyer may be required.
What Is Breach of Contract?
The terms of a contract can be quite complex. They are drafted carefully and usually by attorneys. Each party to a contract is represented by legal counsel so that they ensure the contract is legal, binding and understood by all parties.
Despite the level of care given to the drafting of contracts, things can still go wrong. Through an honest mistake or an intentional act one party may breach the terms of a contract. Perhaps they fail to provide timely delivery of goods or the other party doesn't make a payment within the prescribed time period. Regardless, the terms of the contract are not being upheld. This means that the party that did not breach the contract may seek legal remedies for their loss.
Many contracts contain means for curing a breach of the terms. This may include stipulations about which jurisdiction will be used for settling disputes in court, providing notice of the breach to the other side and the requirement for trying alternative dispute resolution before filing a lawsuit. Other contracts do not define such terms. Nonetheless, the wronged party is still entitled to seek legal redress with the assistance of a Breach of Contract Law Firm.
Who May Need Help With a Breach of Contract?
- Small Business Entrepreneurs
Is the Help of a Breach of Contract Lawyer Necessary?
Contract terms can be complex and difficult to interpret. They are nearly always drafted by attorneys, and that is an excellent argument in support of relying on the services of a lawyer when it comes to enforcing those terms. The wronged party may actually have several alternatives for proceeding. The best way to understand them all is with the help of an attorney.
For instance, it's important for the wronged party to understand that the breach can be cured through a variety of means. The fact that they did not breach the contract and were in some way damaged by the failure of the other party means that they are likely entitled to relief under the law. The form of the relief or remedy can vary.
Relief Through Damages
The first type of remedy is damages. Damages are broken down into several different categories, but they all boil down to the same essential thing: The breaching party is required to pay back the non-breaching party. The amount of the damages may be precisely what the non-breaching party lost. On the other hand, the non-breaching party may also win punitive damages which would entitle them to compensation over and above what they lost.
Another type of remedy that may be available with the help of a Breach of Contract Law Firm is specific performance. This relief may be necessary when the terms of a contract are unique or in some respect unusual. The court may order specific performance when damages would not be sufficient to restore the non-breaching party.
Cancellation and Restitution
Cancellation and restitution may also be possible. This form of relief effectively cancels the contract and forces the breaching party to pay back the non-breaching party for any assets they gave to the breaching party. The purpose of this remedy is to restore the non-breaching party back to the position they held before entering into the contract.
All of these remedies are available to the parties to a contract under the law. However, it is virtually impossible for an individual or a company to achieve these outcomes without the assistance of a knowledgeable attorney.
Legal Knowledge Is Indispensable in a Breach of Contract Matter
Breach of contract lawsuits are nearly always complicated and may require considerable time to resolve. An attorney who is familiar with common business practices and is a skilled negotiator is an asset to the process. Even if a trial is not ultimately necessary, a well-qualified lawyer can help clients seek a creative solution that may be in their best interests. This may involve engaging in an alternative dispute resolution process that can resolve the situation with efficiency and considerably less expense.
Contracts are a necessary part of every business deal, but they must be enforced in order for them to have any meaning. A Breach of Contract Law Firm can ensure that the parties to a contract meet their obligations.