The way in which we conduct business is constantly changing and evolving. Businesses are always looking for new ways to sell products, serve customers and grow. The one thing that does not change, is the value of a person or corporation’s “word.” In business, real estate and in individual dealings, the acceptance (and signing of) a contract is entering into an agreement in which both parties have rights–implied and explicit. The breach of contract attorneys at Webb & Ord will scrutinize your contract, look for ways in which it can go wrong, and prepare you to protect your rights.
A failure to comply to the terms of a contract, also known as a breach of contract, can lead to devastating financial losses for an business or an individual. A breach of contract will waste both time and money, and often a lawsuit is required to settle the dispute. Indeed, breach of contracts are one of the most common lawsuits heard in courts worldwide.
In order to move forward with a breach lawsuit, your case should satisfy one of the following four breach criteria:
A partial or minor breach includes cases when the contract has not been fulfilled completely. Let’s say you paid a contractor to build a fence, but there were some errors. You could sue for damages if you’ve had to pay a secondary contractor to fix it, or to force the original contractor to correct his errors.
As indicated by the name, a fundamental breach is the failure to satisfy a fundamental element of the contract. A common example of this type of breach is a tenant lease contract. You’ve signed a lease to move in on a certain date, but upon arrival on that date, the previous tenant is still occupying the location. In this case the landlord has had a fundamental lapse, and a fundamental breach of contract.
This type of breach is a the failure of one party to hold up their end of the bargain, and is one of the most serious types of breach of contracts. A common example of this type is a the non-payment of a contract. The contractor has done his job to satisfaction, expecting to collect payment at the end of the project. If the buyer does not send payment within a period of time defined but the contract, then he is in material breach of contract. These types of cases often are settled in court.
As the name implies, this type of breach occurs when there is no reasonable expectation that the contract will be fulfilled. An example of this type would be if a business paid to have a warehouse built by a certain day, once it appears obvious that this date may not be met, it is possible to sue for damages.