When you sign a contract with another party, it is with the expectation that he or she will fulfill the terms of the contract. Whether it’s a contract with a supplier or an employment contract, it can be costly when there is a breach of contract. You have the right to seek a beneficial and reasonable resolution to the situation.
Contracts are important tools for businesses of all types and sizes. They are a viable way by which you can protect your financial and legal interests, and you expect that the other parties will meet their obligations. When they fail to do this, you have the right to seek legal action in order to enforce the contract or seek reasonable damages.
What can you get?
When a breach of contract occurs, you may be able to seek damages to cover your losses. The specific type of recovery available to you depends on the nature of the original contract, how the breach of contract affected your company and more. Some of the remedies that a court may order for you include:
- Restitution: These damages cover the amount of money you paid to the other party for services or a product never rendered.
- Compensatory damages: These damages typically cover the total amount of money represented in the entire scope of the contract.
- Punitive damages: A court may award these types of damages to punish the other party for actions that are morally reprehensible.
- Nominal damages: These are damages awarded when there is a breach of contract but neither party suffered any harm.
An evaluation of your case can help you understand how to move forward with seeking appropriate damages or what types of remedies may be available to you. After a breach of contract, you would be wise to take immediate action to seek a beneficial resolution in a timely manner.
The best interests of your company
It is in your interests to protect your Florida company in every way possible, including in matters related to breach of contract. No matter the terms of the original contract, you have the right to hold liable parties accountable and secure the compensation your company deserves.
Litigation is complex, and the financial interests of your company could be at stake. You will find it beneficial to work with an experienced attorney who can advocate for your business and ensure you take the appropriate legal measures to address a breach of contract.