Business Breach of Contract Law

Business Breach of Contract

Business Breach of Contract Law:

A contract is a promise or a set of promises for which the law gives a remedy if a breach occurs. When a party owes a duty to perform a contract and does not perform that contract, a breach of contract occurs. When a breach of contract arises, parties can attempt to mitigate the damages they have suffered so that damages do not increase.

After a breach of contract occurs parties determine if the contract can still be performed, but if the non-breaching party has contracted elsewhere to complete performance an attorney can assist with attempting to help them recover additional expenses they incurred.

Benefits of hiring a Breach of Contract Attorney

As a business owner you seek to gain profit and for your business to thrive. When a party you contracted with has breached their agreement, your business can suffer. A contract litigation attorney can assist you mitigate your losses to prevent further loss and recover damages against the breaching party.

A non-breaching party can hinder their recovery if they take action without seeking an attorney. Depending on how much performance of a contract has been completed, a non-breaching party can still be required to continue performing their part of a contract. If this performance is not continued, a non-breaching party can later be found in breach of contract in a court of law. Having an attorney provide their legal expertise can ensure that a non-breaching party is not limiting the damages they can recover.

In the formation phase of a contract, a lawyer can help parties create a liquidated damages clause within their contract in the event that a breach of contract occurs. A liquidated damage clause establishes a prefixed amount that will be paid to the non-breaching party in the event the other party is unable to perform their obligation to a contact. A liquidated damage clause protects parties by informing them in advance of a fee they will have to pay to the other party if they breach their contract, however the liquidated damage clause cannot serve as a penalty for breaching the contract.

What a Contract Lawyer can do for you

Having a lawyer draft your contract helps protect your interests in the event of a breach of contract. If the other party does breach their contract, a Business Law Lawyer can help minimize your damages so that you can recover losses in accordance with the law. Do not hinder your collection of damages without first consulting a lawyer.

Lawyer Referral Service

For a free referral to an attorney with experience in Business Breach of Contract cases, contact Attorney Search Network today.

If you have any questions about the information provided above, please contact us. Call us toll free at (800) 215-1190 or fill out out online form for your business dissolution lawyer referral.

If you have any questions about the information provided above, please contact Attorney Search Network.