Lawsuit For Breach Of Contract

Lawsuit For Breach Of Contract
$500.00
Year: 2017
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What Is a Breach of Contract

A business contract creates certain obligations that are to be fulfilled by the parties who entered into the agreement. Legally, one party’s failure to fulfill any of its contractual obligations is known as a “breach” of the contract. Depending on the specifics, a breach can occur when a party fails to perform on time, does not perform in accordance with the terms of the agreement, or does not perform at all. Accordingly, a breach of contract will usually be categorized as either “material” or “immaterial” for purposes of determining the appropriate legal solution or “remedy” for the breach.

  Remedies for a Breach of Contract:

When an individual or business breaches a contract, the other party to the agreement is entitled to relief (or a “remedy”) under the law. The main remedies for a breach of contract are; Damages The payment of damages — payment in one form or another — is the most common remedy for a breach of contract. There are many kinds of damages, including the following:

Compensatory damages; aim to put the non-breaching party in the position that they had been if the breach had not occurred.

Legal Expenses; generally legal expenses are awarded to the winning party in a civil action.

 

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