What Happens If There Is a Breach of Contract?
A contract should be in place anytime two parties enter into an agreement with one another. Having a written record of an agreement protects the rights and obligations of all involved parties and ensures everyone agrees to the same terms. Whether the contract concerns payment for services, renting a unit, or other various responsibilities, a breach of a contract is, unfortunately, a relatively common occurrence, and one that requires competent legal counsel to remedy.
Contract Breach Remedies
A breach of contract may involve denying or refusing to accept the validity of a contract, failing to keep or adhere to a material term of a contract, and/or causing another party to be unable to perform their contractual obligations. It is important to note that not all breaches are created equal, and the consequences of a breach of contract depend on the situation. The types of breach of contract include:
Material Breach: failure by the defaulting party to carry out their end of the deal.
Minor Breach: partial breach in which one party considers another party’s work unsuccessful by the contract terms.
Anticipatory Breach: when it has become obvious that one of the parties will not complete their end of the contract within the allotted time.
Fundamental Breach: the very foundation on which the contract was rooted is not supported by one of the parties (i.e. a lease is signed for a unit that does not exist).
The most severe types of breaches are fundamental and material breaches, which are the two most often seen in court. Material breaches allow the non-breaching or non-defaulting party to sue for damages. Fundamental breaches allow the non-breaching or non-defaulting party to invalidate the contract and sue for damages. Anticipatory and minor breaches may not be used to sue for specific performance but may allow the injured to seek monetary damages.
Regardless of which type of contract breach occurs, in order to file a breach of contract lawsuit, the non-breaching or non-defaulting party must have evidentiary support that 1) a contract exists or existed; 2) the contract is and/or was legally binding; 3) the contract terms were not met or abided by the breaching or defaulting party, and 4) that as a result of the failure to abide by the contract has resulted in damages to the non-breaching or non-defaulting party.
How Can The Saade Law Firm, P.A. Help?
As the non-breaching and/or non-defaulting party in a breach of contract matter, aside from the monetary harm, the breach may have caused, it may also feel discouraging and frustrating to know that someone or some entity acted in bad faith and took advantage of the trust that was placed in them. At The Saade Law Firm, P.A., we understand the human and emotional aspects behind these types of cases and are prepared to assist our clients in navigating past those emotions in order to focus on the material facts at issue. Our experienced attorneys will guide the non-breaching and/or non-defaulting party through their legal options. Working with our Miami-based law firm will ensure that the non-breaching or non-defaulting party is made whole and receives the maximum amount of compensatory damages, as well as any other remedy at law or equity that may be available to them.