Appropriate remedies for your company after a breach of contract

On Behalf of | Jul 25, 2019 | Firm News

Business contracts are some of the most important tools that Georgia companies have. These legal agreements protect the interests of two different parties, allowing them to have a full understanding of obligations and responsibilities. In many cases, they can prevent problems and lower the chance of a dispute between parties.

However, what happens in the event that the other party does not follow through with his or her end of the agreement? What if he or she does not abide by the terms of the contract? This is more than just a frustration or an inconvenience — it is a threat to the financial and legal interests of your business. At this point, it may be appropriate to move forward with legal action or seek an enforceable out-of-court solution.

What can you get?

You have the right to pursue a civil claim against a party that breaches a contract. This can allow your company to recoup financial losses or secure what is necessary to undo any damage done to your company operations. There are a few different types of remedies that may be available to your business, and they include the following:

  • Restitution – A court may rule that the offending party must pay your company back for money paid for goods or services never delivered.
  • Compensatory damages – The intent of these kinds of damages is to give you money to cover what you will have to pay someone else to deliver the goods or provide the services covered in the contract.
  • Specific performance – This is when a court orders the party that breached the contract to adhere to the terms of the contract or provide a good or service.
  • Punitive damages – These are damages ordered as a way to punish the offending party, typically in cases involving issues or behavior that is morally reprehensible, such as intentionally causing harm to others.

These are only a few examples of the types of damages you may be able to get after a breach of contract incident. An assessment of your case can help you understand the specific legal options available to you and how you can protect your company’s interests.

When you seek the counsel of an experienced legal advocate, you can pursue damages that will be meaningful and beneficial for your unique situation. It is in your interests to act quickly to protect your business as soon as you learn about a breach of contract.