Breach of Contract Claim
A contract is an exchange of legally enforceable promises. A contract can be anything from formal documents drafted by a lawyer and signed in presence of witnesses to a private handshake agreement. You have a legal right to enforce the promises made within a contract. Our New York business litigation attorneys can help make sure the other side is honoring their promises.
Breach of contract is the most common source of dispute in a business relationship. Whenever a party to contract fails to perform its promises, there has been a breach of contract. Understanding your rights and obligations after a breach is important.
Breach of Contract Lawyers Help Your Business
The best legal problems are the ones that never happen. Before a breach ever happens, it is worth having your contract reviewed by an attorney before a breach occurs. Our attorneys can help you manage risk by identifying potential problems, modifying the contract if necessary, and advising how to proceed with the contract.
Furthermore, our contract dispute attorneys can review your contract to examine what is actually enforceable. The contract as a whole may be entirely void, or only certain parts may be void. Terms of a contract may be “voidable”; meaning those terms are not necessarily void, but may be void in certain circumstances. Some terms may be deemed immaterial will be little or no impact on the entire contract in the event of breach.
If you operate as a business, it is important to know that The New York Commercial Code treats businesses differently than mere individuals who sign a contract. The law expects businesses to act in good faith and adhere to certain well-understood business principals. Generally, the terms of the contract will prevail; however, certain terms may not be enforceable if they unfair.
Even if you’re an individual who regularly deals in a certain type of business, you may be treated as a business. For example, the terms of a contract between two people, as individuals, will usually be construed and enforced rather strictly. However, the terms of a contract between business entities can be construed and enforced much more loosely. This means, even if the other side breaches, you may still be required to perform.
In the world of business, contract breaches are not a rare occasion
If the other side to your contract has indicated they will not perform fully, and you anticipate a breach of contract, you can protect yourself. By demanding “adequate assurances” from the other side, our attorneys can place the burden on the other side to prove they will fulfill the contract. We will file a breach of contract claim.
If the other party has already breached, we can review the terms of your contract, and offer you sound advice on your obligations going forward. A breach doesn’t necessarily void the entire contract. In some instances, a material breach may void the contract and you may be entitled to damages. In other instances, you may be required to perform in whole or in part in spite of the breach. Fundamental breach of contract is an area of law where we are experts.
We can also draft and review contracts. There can be a world of difference between what a person says a contract says, and what the contract actually says. And legal terms can act like magic words that have very specific meaning – so a misused legal term can cause big problems down the road.
Suing for Breach of Contract
There are two types of relief available for breach of contract: damages and specific performance. Damages are financial compensation intended compensate the aggrieved party. Specific performance is available in certain situations where financial compensation is not enough. The court can force the parties execute the contract, when unique good such as real estate or artwork, for example, are involved. Even if a contract proves void, you can still recover for unjust enrichment.
If the breach has already occurred, or may be about to occur, contact us today to learn more about your legal rights. We will always go an extra mile to find a solution for you and your business. We are available 24/7.