Stokes O'Brien

Breach Of Contract Lawsuit

Posted in Business Lawyer on March 15, 2019

Finding A Breach Of Contract Lawyer

It would be nice if every time agreements were made, both parties would benefit and hold up their end of the deal. Without disputes, everyone would get what they want at all times. However, the real world works differently and in business, delays happen, financial issues arise, and unexpected events can hinder contracts from being carried out of from succeeding. When those things happen, sometimes businesses need to hire breach of contract lawyers to put things back together.

How Are Contracts Breached?

Business contracts create obligations that are carried out by those who enter the agreement. If one party in the contract fails to fulfill their end of the deal, they are in breach of contract. Depending on the terms within the contract, that breach can occur if someone doesn’t fulfill their duties on time, when someone doesn’t fulfill things correctly, or when they don’t perform the duties at all. The breach will generally be categorized as material or immaterial so the law can find the right solution for the breach.

What Happens When A Breach Occurs?

When one party in an agreement alleges that the other is in breach of contract, they may seek to recover financial or other harm that has been caused by the breach. When those disputes arise, the parties might try informal attempts to come to a new agreement. If that fails, the next step is a lawsuit. Courts and lawsuits aren’t the only option, mediation is another possibility. When the parties can’t agree or compromise, the lawsuit is the last resort.

Breach Of Contract Remedies

The law will help the parties remedy the breach of contract issue in three possible ways: through damages, with specific performance, or by cancellation or restitution. Damages is the most common and payment comes in a number of different forms. Compensatory damages put the non-=breaching party in the same position they were in if the breach hadn’t occurred. Punitive damages make the breaching party pay above and beyond the full amount to punish them for wrongdoing. Nominal damages are awarded after a breach when no money has been lost and liquidated damages are a reasonable estimate of damages from the breach.

Getting A Breach Of Contract Lawyer

If you have entered into an agreement with another party and you feel they or in breach of contract, or if they are suing you for breach of contract, you can get a lawyer to help you with the matter. It’s best to find a lawyer who specialize in breach of contract so they know the ins and outs of the laws and what you can and can’t do. Consult with a business attorney to see if they have the expertise you need in your particular industry and in breach of contract law in general. You can then decide if you want to move forward with a lawsuit, or how to defend your interests if one is being brought against you. The law offices of Stokes O’Brien are here to help you with such issues.