February 06, 2013 (Press-News.org) Breach of contract claims and remedies
In business, contracts are formed on a regular basis with vendors, clients and employees. When someone fails to live up to his or her contractual obligations, the breach can have a disastrous effect on the business. A contract dispute can be a costly and disruptive to daily business operations.
What is a contract?
By definition, a contact is an agreement between two or more parties that meets certain criteria. For an agreement to be a contract, one party must make an offer, the other party must accept the offer and there must be consideration -- something of value given in exchange for a promise. Contracts don't have to be in writing to be valid, but a verbal contract is extremely difficult to enforce in court. Businesses are advised to put all agreements, big and small, in writing.
What is a breach and what are the legal remedies?
A contract is breached when one party fails to meet the terms of the contractual agreement. For example, if a business hires a caterer for its annual sales conference, both parties sign a contact defining the terms of the agreement and the caterer fails to appear at the event, he is in breach of contract, When a contract is breached, the non-breaching party may ask the court to award them damages -- generally monetary compensation. However, damages can include:
-Compensatory damages to provide a party with the monetary amount necessary to replace what was lost due to the other party's breach.
-Liquidated damages are specific damages delineated in a contract in the event that the contract is breached.
In some situations, monetary damages are not appropriate. In these cases, the non-breaching party may request specific performance instead. When a party asks for specific performance, they are asking the court to order the breaching party to perform the duties they had promised to do in the contract.
Contact a breach of contract attorney
If your business is involved in a contract dispute, contact an experienced commercial litigation attorney. The right attorney will explore all of the remedies available to you and help you obtain compensation for the money lost due to the other party's breach.
Article provided by Leritz, Plunkert & Bruning, PC
Visit us at http://www.leritzlaw.com
Breach of contract claims and remedies
What is a breach of contract and what can one do about it?
2013-02-06
ELSE PRESS RELEASES FROM THIS DATE:
Patent attorney malpractice: Who hears the case?
2013-02-06
Patent attorney malpractice: Who hears the case?
Federal courts have jurisdiction over lawsuits "arising under any Act of Congress relating to patents, plant variety protection, copyrights and trademarks." But does that then mean federal courts have jurisdiction when a client sues his patent litigation attorneys?
Generally, claims for legal malpractice are decided by state courts and claims regarding patent laws are governed by federal courts. However, the United States Supreme Court has just agreed to review the case Gunn v. Minton to determine whether ...
Hands Free Technology Does Little to Mitigate Distracted Driving Risk
2013-02-06
Hands Free Technology Does Little to Mitigate Distracted Driving Risk
In recent years, the proliferation of smart phones and Global Positioning System (GPS) navigation devices has changed the way that people in the United States travel on the highway. Some of these changes have been good: drivers on long trips can use their phones to easily stay in touch with loved ones and commuters can use their navigation systems to help bypass construction and arrive at their destinations on time. Other changes, however - most significantly, the rise in distracted driving related ...
Be Aware of Tennessee's DUI Penalties No Matter the Level of Enforcement
2013-02-06
Be Aware of Tennessee's DUI Penalties No Matter the Level of Enforcement
When it comes to drinking and driving, police often step up enforcement measures on the weekends and around holidays. No holiday may better demonstrate the time when police increase the enforcement of drinking and driving laws than New Year's Eve. This recent holiday was a busy one for the Tennessee Highway Patrol, but no matter the season, drivers in Tennessee should be aware of the legal and non-legal ramifications of driving under the influence.
Stepped-up enforcement of drinking and driving ...
Foreclosure prevention in Pennsylvania
2013-02-06
Foreclosure prevention in Pennsylvania
Recent reports indicate that the number of home foreclosures in Pennsylvania is decreasing. According to RealtyTrac, foreclosures in November 2012 decreased by 67 percent from a year ago. In fact, foreclosure rates are down in 28 states compared to 2011. Nationwide, there were 77,494 foreclosures in November 2012, which is a 13 percent decrease from October 2012 and a 28 percent decrease from November 2011.
In spite of these statistics, some experts aren't overly optimistic about the decrease in foreclosures. The vice president ...
Treasury Department proposal asks hedge funds to turn themselves in
2013-02-06
Treasury Department proposal asks hedge funds to turn themselves in
Unlike many financial institutions, hedge funds traditionally operated without a lot of regulation and reporting requirements. That may soon change as an office of the Treasury Department, the Financial Crimes Enforcement Network, considers a rule that may require hedge funds to report potential wrongdoing within the business. The self-regulation will effectively turn every hedge fund employee into a mandated whistleblower, which is not uncommon in the banking industry. However, the proposed regulation ...
Watch out for retained surgical objects
2013-02-06
Watch out for retained surgical objects
Georgia residents depend on their physicians and other medical caregivers when they are injured or ill. If surgery is required, patients expect medical staff to see them through the operation and recovery with careful attention to every detail. What patients do not deserve or expect is a surgical error to be made by their caregivers that leads to further complications.
When surgeons fail to finish the job
According to researchers at the Johns Hopkins University, every week in the United States, including Georgia, an estimated ...
Modification of child custody and visitation in Georgia
2013-02-06
Modification of child custody and visitation in Georgia
During the divorce process child custody can be one of the most contentious issues either parent may face. Often neither parent is happy to give up time with his or her child. Thankfully if a substantial change in a parent's or a child's life occur the child custody order can be changed.
Modifying visitation or parenting time
In Georgia there is a difference in requirements when a parent may request a change in visitation or parenting time and when a parent may request a change to the child custody order. ...
Cerebral palsy and medical negligence
2013-02-06
Cerebral palsy and medical negligence
According to the Centers for Disease Control and Prevention, cerebral palsy is the most common childhood motor disability in the United States. There are various causes of cerebral palsy, a few of which include medical negligence.
Cerebral palsy victims may need a lifetime of care and, potentially, even 24-hour care. Given that cerebral palsy has such profound implications on a person's life, and if the cerebral palsy was the result of medical negligence, an injured party may be entitled to significant compensation for his or ...
Idolumic Unveils Multi-Platform Updates of Rhyme Genie and TuneSmith
2013-02-06
With the release of Rhyme Genie 5 Idolumic unveils a new iOS version to complement the updated Mac and Windows versions of the dynamic rhyming dictionary. With 30 different rhyme types and over 10 million phonetic references the iOS version of Rhyme Genie 5 is an exact clone of the desktop version requiring the use of an iPhone 5, an iPad 4 or an iPad Mini.
"Even though we have completely re-designed Rhyme Genie 5 to run as efficiently as possible on all platforms, Apple's latest mobile devices are strongly recommended to achieve optimum performance on iOS," ...
The Ocean Meets the Mountains this March at Park Hyatt Saigon
2013-02-06
The month of March at Park Hyatt Saigon presents cuisine originating from the waters of Vietnam to the hilltops of Italy. Unique seasonal creations will be available to discover, and rediscover, specialties at Square One and Opera.
A SQUARE ONE SEAFOOD SENTIMENT
Experience the refined seafood styling and sophistication of Square One. For the month of March, Chef Soren brings the taste of the ocean with a menu that incorporates fresh seafood and produce from different regions of Vietnam. Seafood lovers will enjoy the subtle textures, flavours and nuances prepared with ...
LAST 30 PRESS RELEASES:
A new “link” to triple-negative breast cancer
Cool is cool wherever you are
Meteorological satellites observe temperatures on Venus
New hope for brain cancer: FAU awarded grants for glioblastoma treatment
AI for Good Global Summit 2025 - Exclusive press tour (ITU/United Nations)
Bacteria hijack tick cell defenses to spread disease
New study shows omega-6 does not increase inflammation
Firms raise the bar after missing the target: Strategic use of overestimated earnings targets
Pusan National University scientists uncover gene mutation tied to poor outcomes in transplant patients
How a common herpes virus outsmarts the immune system
Breakthrough resins speed up 3D printing with built-in material control
BCI robotic hand control reaches new finger-level milestone
Neurons burn sugar differently. The discovery could save the brain
AI matches doctors in mapping lung tumors for radiation therapy
A rare form of leprosy existed in the Americas for thousands of years
Researchers identify genetic bottlenecks that explain the emergence of cholera
Tests to detect marijuana-impaired driving based on ‘pseudoscience’
Pigments that can do more
How to refocus in the age of distraction
The rise of 'artificial historians': AI as humanity’s record-keeper
Older paternal age linked to higher miscarriage risk and lower live birth rates in donor egg IVF cycles, new study finds
New study provides breakthrough in pig-to-human kidney transplantation
Gut bacteria and amino acid imbalance linked to higher miscarriage risk in women with PCOS
Simple blood test detects preeclampsia risk months before symptoms appear, new study shows
3D printing breakthrough: Scientists create functional human islets for type 1 diabetes treatment
Malnutrition in children rises when economy drops
New model enables the study of how protein complex influences mitochondrial function
Device study offers hopes for spinal cord injuries
How urea forms spontaneously
Mayo Clinic’s AI tool identifies 9 dementia types, including Alzheimer’s, with one scan
[Press-News.org] Breach of contract claims and remediesWhat is a breach of contract and what can one do about it?