WHAT CAN BE CONSIDERED BREACH OF CONTRACT?

Contracts are legally binding documents that are typically signed and agreed upon by two parties or more. Unfortunately, these legally binding documents aren’t always honored. If either party who agreed to the contract decides to or cannot fulfill their end of the bargain, there are likely to be legal repercussions involved. In case of a breach of contract, it is best for each party to retain an attorney who specializes in breach of contract cases. Contact the staff at Ferrer Law Group for legal assistance today.  

What is a Breach of Contract? 

A breach of contract can be classified in two ways. The two classifications are known as either a material breach or an immaterial breach. These classifications are put in place in order to determine that legal remedy is most appropriate in the situation at hand. A breach of contract can occur when either party is unable to or refuses to deliver on any agreement within the contract itself. If for any reason, an obligation in the contract is not being honored, you should contact an attorney for legal advice on your options. If you are ever in need of an attorney in Broward, Miami-Dade or Palm Beach County, Florida, a contract matter the attorneys at Ferrer law group can assist you with your options and file a lawsuit if needed.  

The Difference Between an Immaterial and Material Breach of Contract 

An Immaterial Breach of contract is more of an inconvenience than a serious case. All this means is that an immaterial breach of contract will not impact you or your business to the extent that it interferes with your ability to perform your contractual  obligations. A Material Breach of contract can have a negative impact on your ability to perform the obligations as defined in the contract. A Material Breach could have an effect on your ability to conduct business and fulfill other obligations, which could result in additional consequences.  

How A Lawyer Can Help  

If there is an issue with breach of contract from either party to the contract, you have every right to file a lawsuit to enforce the terms of the contract. Filing a lawsuit for a breach of contract will require proof, evidence, and knowledge of Florida contract law. An experienced attorney can help you with the gathering and implementation of evidence as well as ensuring you receive compensation for anything that is owed due to the breach of the contract by the other party. 

Possible Breach of Contract Solutions  

According to law, the afflicted party in this issue is entitled to a solution or remedy. The main 3 classifications of these remedies are for 1) specific performance, 2) damages, and 3) rescission. The remedy the afflicted party can obtain is based on specifics pertaining to the case.  

Specific Performance Remedies are typically used if damages are not a suitable remedy for the breach of contract. Specific performance remedies typically occur under unique circumstances.  Basically, the remedy of specific performance is where the party who breached the terms of the contract is ordered by the Court to perform those terms.  

Damages is one of the most common breaches of contract remedies used as a solution. Damages typically come in the form of payment and may fall under the categories of General, Special, or Punitive, Damages.  General damages compensate the injured party in the contract for all direct losses that result from the breach. Special damages compensate the wronged party in the claim for all other losses that may flow from the breach but are not direct losses. In cases of fraud and other egregious conduct in a breach of conduct claim, punitive damages may also be awarded. Punitive damages are meant to punish the wrongdoer and serve as a deterrent to others who may consider similar actions.

Rescission, which is also known as cancelation, is an opportunity given to the afflicted party to simply cancel the entire contract and relieve the parties of their obligations under the contract. If the contract cancelation is not enough to restore the afflicted party to the same position they were in prior to the contract, the breaching party would be responsible for correcting that.  

If you were part of a contract where it was breached either immaterially or materially, contact a  contract attorney for assistance right away. If you live in Broward, Miami-Dade or Palm Beach County, Florida and are in need of a legal solution for a breach of contract, contact the staff at Ferrer Law Group for a consultation today.