Breach Of Contract In California And Why You Need To File Business Law Claims ASAP
Contracts protect you, your finances, and your business. By fulfilling your end of the bargain, you ensure everything goes smoothly for everyone.
Unfortunately, it frequently happens that parties to a contract don't fulfill their responsibilities. Someone may be held accountable for damages for breaching a contract when they fail to uphold their end of a written or verbal agreement. When a party to a contract violates it, it could result in losses in money, stress, and disruptions in your life and the life of your family.
A party breaking a contract may do so for several different reasons. Some may be overlooked, while others may be intentional. However, the results are typically the same when one party violates an agreement. The other party experiences financial losses and damages while the contract's benefits are withheld.
When Can You File A Breach Of Contract Claim In Pomona, California?
All contracts are binding. So, a violation of such can allow non-breaching parties to seek damages for them. The most common cases of breach of contract claims include:
Conflicts in partnerships and businesses
Buying and selling of companies, properties, or real estate
Buying or selling any personal property
Agreements about employment or other services
Contracts for construction
Organizational agreements for the trade of goods or services
If any of these apply to you, contact a prescreened Pomona Business Law Attorney to help you with your claim. In addition, a breach of contracts often results in financial losses for the aggrieved party, so they need to collect damage and ensure they recover from the incident.
Our prescreened Business Lawyers in Pomona know their way around the law. They can help you build a case, investigate claims, file the proper paperwork, and meet crucial deadlines.
Potential Solutions And Damages For California Breach Of Contract Claims
The non-breaching party may be entitled to remedies and damages when there has been a contract violation. The potential damages for a breach of contract claim are briefly listed below:
1. Financial Damages
Money damages incurred by the non-breaching party due to the breach may be paid to that party. In this case, the party who violated the agreement will be responsible for any losses brought on by the violation.
2. Specific Performance
When a party violates a contract or agreement, fulfilling those responsibilities is frequently the appropriate remedy, known as Specific Performance. In situations where monetary damages are insufficient to fully compensate the non-breaching party, specific performance remedies are appropriate. It is crucial to consult with a qualified lawyer to determine your eligibility for Specific Performance.
Rescission gives non-breaching parties the legal ability to withdraw from the legally binding agreement or contract. The likelihood of obtaining rescission of the contract or agreement should be evaluated by an experienced prescreened California business attorney.
4. Liquidated Damages
Determining the damages brought on by a breach can frequently be challenging depending on the type of contract. Many contracts will include a liquidated damage clause to address this problem. In case of a breach, this clause will grant the non-breaching party a predetermined sum of money as compensation.