Breach of contract occurs when a party does
not honor a binding agreement. This happens either through
non-performance or outright interference with the other party. This is a
civil wrong, not a criminal wrong.
There are several different types of contract breaches. In a minor breach, substantial performance occurs and the party that hasn’t breached is not permitted to file a lawsuit for compensation that relates to specific performance. He is limited to suing for actual damages incurred.
When a material breach occurs, there is a failure to perform that allows one to compel the other party to perform as promised or pursue damages as a result of the breach. A fundamental breach is an egregiously fundamental breach that empowers the aggrieved party to immediately end the performance outlined in the contract and sue for damages.
There is also an anticipatory breach in which a party demonstrates an “unequivocal indication” that they will not perform as promised in the contract. This allows the non-breaching party to end the contract and sue for damages even before an actual breach occurs.
Businessmen commonly rely on the knowledge of corporate litigators to help them determine whether a breach of contract really exists and if it is worth pursuing with a lawsuit. Oftentimes, it is quite difficult to figure out whether a specific failure really constitutes a breach of contract. A corporate litigator will help to determine if the failure to render/offer performance is actually material. Breach of contract litigation is big business. Clients need the assistance of corporate attorneys to recover significant monetary damages and also to obtain court orders that require the breaching party to operate in accordance with the terms of the breached contract.
It is quite common for breach of contract disputes to be extraordinarily complex. These matters require a seasoned corporate attorney with experience in commercial leases, loan agreements and a wide range of contracts. While the typical businessman understands what a contract is and why it is important, he doesn’t understand the nuances of each type of contract. An experienced corporate attorney has handled breach of contract cases involving supplier contracts, services contracts, buy-sell contracts, asset-purchase contracts, franchise contracts, licensing contracts etc.
Plenty of corporate litigators are even willing to work on a contingency-fee basis. This means that corporate clients won’t be saddled with the burden of hourly billing. A confident corporate litigator will bank on his ability to prove a breach of contract and collect a percentage of his client’s recovery. This recovery, also called compensatory damages, are issued to make the plaintiff “whole”. This money represents the funds that the plaintiff would have obtained if the other party had not breached the contract. In addition to monetary damages, a corporate litigator will also strive for equitable relief for his client. This is a court order that requires the breaching party to act or stop acting in a certain manner in the future.
There are several different types of contract breaches. In a minor breach, substantial performance occurs and the party that hasn’t breached is not permitted to file a lawsuit for compensation that relates to specific performance. He is limited to suing for actual damages incurred.
When a material breach occurs, there is a failure to perform that allows one to compel the other party to perform as promised or pursue damages as a result of the breach. A fundamental breach is an egregiously fundamental breach that empowers the aggrieved party to immediately end the performance outlined in the contract and sue for damages.
There is also an anticipatory breach in which a party demonstrates an “unequivocal indication” that they will not perform as promised in the contract. This allows the non-breaching party to end the contract and sue for damages even before an actual breach occurs.
Businessmen commonly rely on the knowledge of corporate litigators to help them determine whether a breach of contract really exists and if it is worth pursuing with a lawsuit. Oftentimes, it is quite difficult to figure out whether a specific failure really constitutes a breach of contract. A corporate litigator will help to determine if the failure to render/offer performance is actually material. Breach of contract litigation is big business. Clients need the assistance of corporate attorneys to recover significant monetary damages and also to obtain court orders that require the breaching party to operate in accordance with the terms of the breached contract.
It is quite common for breach of contract disputes to be extraordinarily complex. These matters require a seasoned corporate attorney with experience in commercial leases, loan agreements and a wide range of contracts. While the typical businessman understands what a contract is and why it is important, he doesn’t understand the nuances of each type of contract. An experienced corporate attorney has handled breach of contract cases involving supplier contracts, services contracts, buy-sell contracts, asset-purchase contracts, franchise contracts, licensing contracts etc.
Plenty of corporate litigators are even willing to work on a contingency-fee basis. This means that corporate clients won’t be saddled with the burden of hourly billing. A confident corporate litigator will bank on his ability to prove a breach of contract and collect a percentage of his client’s recovery. This recovery, also called compensatory damages, are issued to make the plaintiff “whole”. This money represents the funds that the plaintiff would have obtained if the other party had not breached the contract. In addition to monetary damages, a corporate litigator will also strive for equitable relief for his client. This is a court order that requires the breaching party to act or stop acting in a certain manner in the future.
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