Breach of Contract
Keeping a business moving depends upon contracts, and when one party fails to fulfill its obligations under a contract the consequences can be severely damaging. If you've suffered a financial loss due to a breach of contract, the attorneys at Watts Guerra can work with you to bring your conflict to a successful resolution.
Business disputes almost always involve a breach of contract. When one party fails to live up to the terms of a commercial contract, a civil lawsuit leading to a negotiated settlement, or to a trial, is often the best - and often the only - way to successfully resolve the dispute.
While nearly every contract spells out precisely the terms under which a product or service must be delivered, few contracts specify the penalties to be incurred when a party fails to uphold their end of the agreement.
When a breach of contract happens and there is not a contractually-mandated penalty, the injured party should immediately speak with a qualified commercial litigation attorney. An attorney will be able to help define what type of damages would be appropriate to seek, and what forms of compensation will make the most sense, given the situation.
Damages Available for Breach of Contract:
- Specific Performance: The court orders contractual performance to be executed. This remedy is very common with transactions involving real property, especially real estate.
- Liquidated Damages: Your contract may spell out what an injured party gets in the event of a breach.
- Incidental Damages: Money awarded to compensate the plaintiff for reasonably associated or foreseeable damages.
- Compensatory Damages: Money awarded to compensate you for your damages.
- Loss of Use: A financial sum given based on the time it takes to repair the damage done by the breach.
- Loss of Credit: If your company suffered a loss of credit, or was forced into bankruptcy as a result of the breach, you can receive financial compensation.
- Rescission: A remedy in which any money or other valuable consideration given is returned, and both parties agree that they are no longer obligated to each other under the contract.
- Restitution: A two-way return of valuable consideration, wherein each party is restored to their position prior to the contract.
Mikal C. Watts, one of the most well-known litigators in the country, leads a team of successful, aggressive commercial trial lawyers. The offices of Watts Guerra are located across Texas, but our firm accepts cases nationwide on a contingency fee basis. Our clients owe us nothing unless we are able to win their case.
If you have been harmed by a breach of contract, contact us online or call us at (800) 294-0055.