A contract is an agreement between two parties. Whether the contract is written or oral, it is legally binding for all parties involved.
If one party does not hold up their end of the agreement, they could be in breach of contract. A party can breach a contract in one of several ways: not doing what they promised, preventing the other party from upholding their end of the bargain, or showing no intention to carry out their responsibilities as outlined in the contract.
When this happens, the non-breaching party is entitled to compensation, whether it comes in the form of payment, services, or complete voiding of the entire contract.
Damages Available In A Breach Of Contract Lawsuit
Depending on the circumstances, parties seeking monetary compensation for a breach of contract may be able to obtain:
- Compensatory Damages: Compensatory damages are intended to make the plaintiff whole and provide monetary relief representing the benefit the plaintiff would have received had the contract not been breached. Compensatory damages also include consequential damages, which are intended to provide compensation for any indirect damages caused by the breach of contract. Lost profits, for example, may be recovered through a breach of contract lawsuit.
- Liquidated Damages: Some contracts contain a liquidated damages provision, which provides a specific amount that a court can award to the aggrieved party if the contract has been breached.
- Punitive Damages: In certain cases involving fraudulent behavior, a court may award punitive damages, which are intended to punish the party at fault.
In some cases, individuals may want to seek order from a judge requiring specific performance in a breach of contract lawsuit, rather than monetary compensation. Specific performance may be granted in cases where monetary damages would not adequately compensate the non-breaching party.
If a court orders specific performance, the breaching party is required to fulfill its obligations under the terms of the contract.
A contract for the sale of unique goods that cannot be obtained from another seller is one example. A court may issue an order requiring the breaching party to perform under the terms of the contract and deliver the unique goods.
Helping Northeast Florida Resolve Breach Of Contract Matters
At Canan Law, our attorneys have a proven track record of helping many clients obtain significant recoveries in all types of contract cases. We frequently represent small businesses and individuals who are owed money, assets, or compensation under a binding agreement.
We also represent clients who have claims for business torts that may be related to their contractual disputes, including situations where fraud, breach of fiduciary duty, conversion, civil theft, unfair trade practices, misappropriation of trade secrets, or tortious interference with a business relationship has occurred.
A Thorough Understanding Of Contract Wording
Because contracts are very detailed and use legal wording that is not always easily understandable by those who don't work in the legal field, it is in your best interests to find a lawyer who will help protect your legal rights when you find yourself in such a contractual dispute.
Our experienced contract dispute lawyers at Canan Law have been helping countless citizens in St. Johns County and northeast Florida fight for what's rightfully and legally owed to them.
Let us help you.
Call 904-217-6209 or reach out to us online.