A contract breach occurs when a party neglects to deliver goods and services as stipulated in a contract. These matters often cause substantial financial damage to a business, and owners may pursue compensation through a contract lawsuit. If you’re thinking of filing a claim for breach of contract, it’s crucial to get the answers to the following questions.
- Which damages can you recover in a lawsuit?
- What should I do next?
These questions and others will be answered in the sections below.
Damages
Depending on a case’s facts, you may be able to get any of the following damages:
Compensatory damages.
Compensatory damages. These are the most common awards in breach of contract cases. If someone promised services or goods of a certain value and failed to deliver, you may be able to get compensatory damages for that value.
Consequential damages.
Consequential damages. These are also common in contract cases that lead to other adverse financial effects. However, these damages must be reasonably foreseen as coming from the contract breach.
Liquidated damages.
Liquidated damages. Some business contracts include such provisions because of the difficulty in determining damages in other ways. Your lawyer will review the contract to see if a similar provision is included.
Lawyer’s fees.
Lawyer’s fees. These are sometimes included in business contracts.
Specific performance.
Specific performance. Here, the court orders a party to uphold their end of the legal contract. This is typically done with one-of-a-kind properties like real estate.
Civil litigation lawyers in Chicago will estimate potential damages once the case has been explained and the contract was provided.
In Closing
In some cases, you may have obligations if a party breaches a contract. For instance, you may have to mitigate damages by trying to find another buyer. Talk to civil litigation lawyers in Chicago to find the best way to proceed, whether it’s a settlement or a court trial. Visit Web to learn more, or call the Business Name to schedule a consultation.
