• About
  • Contact
  • Testimonials
  • Newsletter
  • More
    • Demographics & Advertising Rates
    • Terms & Conditions
Monday, March 20, 2023
No Result
View All Result
California Business Journal
  • Front Page
  • Business
  • Finance
  • People
  • Featured
  • Opinion
  • Technology
  • Law
  • News
  • Food
  • Art & Culture
  • Human Interest
  • Education
  • Insurance
  • Real Estate
  • Health & Fitness
California Business Journal
breach of contract

Solving Breach of Contract Disputes

Besides honoring your end of the bargain, you should install a contract repository system to ensure that you monitor all your ongoing contracts.

by California Business Journal Editorial Staff
A A
Share on FacebookShare on Twitter

Contracts are legally binding documents that detail an agreement between two parties. While having a sound contract is critical for business, it doesn’t eliminate the possibility of a breach by the other party. A breach occurs if the other party doesn’t meet their end of the bargain or perform defectively.

A breach in contract is always a legal matter that the court should handle. When this occurs, seeking legal representation is beneficial. The court awards a remedy depending on the contract terms, nature of breach, and circumstance surrounding the case. Below are common types of remedies for breached contracts.

Compensatory Damage

Compensatory damage is the most common legal remedy for breached contracts. Calculations for this form of damage are based on business losses sustained due to the breach of contract. Compensatory damage can either be:

Expectation damage – Also known as general damages, are losses that directly result from unmet expectations.
Consequential damage – These are losses suffered due to the breach of contract. Most consequential damages are related to loss of profits or income.

Most breaching parties look for ways to avoid compensating consequential losses, mostly fronting claims that these losses are unforeseeable. In some situations, the contract may limit parties from claiming consequential losses. You should read the fine print before signing a contract.

Rescission

The court can also provide rescission orders, which allow the non-breaching party to end the contract immediately as a remedy for breach. Instead of seeking compensation, the loyal party can also refuse to play its part in the contract. Rescission typically cancels the contract. However, such contracts should be material.

For instance, suppose you were to provide photography services in an event, and the contract states that the client should pay a certain percentage before a specific date. If they fail to pay, you are justified to rescind the contract. Since making payments was at the heart of the contract, you can rescind the contract and refuse to provide services.

ADVERTISEMENT

Specific Performance

This remedy for contract breach requires the breaching party to fulfill their end of the bargain. While monetary compensations are preferred over specific performance, the latter is the best option if monetary damages can’t provide satisfactory compensation. For instance, you may be in a contract involving something unique or can’t be replaced.

Nominal Damages

The court can also award nominal damage as a remedy for breach of contract. Nominal damages are awarded if the plaintiff cannot provide sufficient evidence to support a breach of contract claims. Like other remedies, the court recognizes that the party breached the contract, but their action didn’t result in direct harm or loss.

Even though nominal damages may seem like a worthless victory, you will get a favorable ruling compared to the breaching party. You can also use this ruling to advance your legal case. Besides, if you had hired an attorney, the defendant may be asked to cover accruing legal fees.

Endnote

The court can also award liquidated damages or give an injunction to breached contracts. These remedies may be favorable or harsh to the at-fault party. You should do everything possible to avoid being on the receiving end, either as an employer or business partner. For instance, besides honoring your end of the bargain, you should install a contract repository system to ensure that you monitor all your ongoing contracts.

Related Posts

Tips for an Infallible Commercial Contract
9 Tips to Making Your Commercial Contracts Infallible
breach of contract
Here’s What You Can Do If Your Employment Contract Is Breached
The Key To Crafting a Small Business Contract
The Key To Crafting a Small Business Contract
Tags: bestbreach of contractlegalmakingparty
ADVERTISEMENT
California Business Journal Editorial Staff

California Business Journal Editorial Staff

Related Posts

The Key To Crafting a Small Business Contract
The Key To Crafting a Small Business Contract
breach of contract
Here’s What You Can Do If Your Employment Contract Is Breached
Tips for an Infallible Commercial Contract
9 Tips to Making Your Commercial Contracts Infallible
advertisement
ADVERTISEMENT

CBJ Newsletter

Facebook Twitter LinkedIn Instagram LinkedIn

Advertise With CBJ

Contact Rick@CalBizJournal.com

CBJ Rates and Demographics

Job Postings

CEO Wanted


Requirements: BS/BA + 2yrs of Business Managing Experience

Mail Resume: Grand Life, Inc. 14647 Northam St. La Mirada, CA 90638.

$114,754/year

ADVERTISEMENT
1REALTOUR-SAN DIEGO-WEB DESIGN
Facebook Twitter LinkedIn LinkedIn Instagram
C B J   LOGO  SVG-01
  • About
  • Contact California Business Journal
  • Testimonials
  • Demographics & Advertising Rates
  • Terms & Conditions

Categories

  • Art & Culture
  • Business
  • California Hotel Listings
  • Daily Updates
  • Editor's Choice
  • Education
  • Featured
  • Finance
  • Food & Dining
  • Health & Fitness
  • Human Interest
  • Insurance
  • Law
  • Lawyers
  • Marketing
  • Medical
  • News
  • Newsletter
  • Opinion
  • People
  • Popular
  • Real Estate
  • Social Media
  • Technology
  • Uncategorized

CBJ Partner Firebrand Media

Laguna Beach Independent Newspaper
 Laguna Beach City Guide
 Newport Beach Independent Newspaper
Newport Beach Country Club Magazine
  Montage Magazine
 Omni Escapes Hotel Magazine
 Bespoke Concierge New York
 Evans Hotels
 Laguna Beach Magazine
 On The Menu Laguna Beach
 Newport Beach Magazine
Coastal Real Estate Guide (NB,LB, CDM)
Monarch Beach Resort Magazine
 Pacific Coast Magazine (SoCal)
Sea Island Life Magazine
Salamander Hotel & Resorts Magazine
 View our entire portfolio

 

Most Viewed

  • Gavel, scales of justice and law books

    Lawsuit Basics: How Much Does It Cost to Sue Someone?

    0 shares
    Share 0 Tweet 0
  • Investigation: Can TriumphFX Take Your Money?

    0 shares
    Share 0 Tweet 0
  • The Impact of Covid: Racing to Buy Second Citizenships

    3 shares
    Share 0 Tweet 0
  • What to Do When an Online Casino Refuses to Pay Out Your Winnings

    0 shares
    Share 0 Tweet 0
  • The Truth About Temu: Where Is It From?

    0 shares
    Share 0 Tweet 0
  • Top 5 Flavors On Elf Bar BC5000 Review

    0 shares
    Share 0 Tweet 0
  • NFL Paychecks: How Do NFL Players Get Paid?

    0 shares
    Share 0 Tweet 0
  • Temu’s New Shipping Policy Is A Smashing Hit For Shoppers All Over the Country

    0 shares
    Share 0 Tweet 0
  • Five Reasons Why The Government Does Not Like Bitcoin

    0 shares
    Share 0 Tweet 0
  • How to Start a Telecommunication Business: A Step-By-Step Guide

    0 shares
    Share 0 Tweet 0

Latest Articles

The Best M4A4 Restricted Skin

The Best M4A4 Restricted Skin

The Top Signs You Need HVAC Repair: Don't Ignore These Warning Signs

The Top Signs You Need HVAC Repair: Don’t Ignore These Warning Signs

The Benefits of Renewable Energy

The Benefits of Renewable Energy

Injured by a Drunk Driver? Seek Justice with the Help of a Skilled Attorney

Injured by a Drunk Driver? Seek Justice with the Help of a Skilled Attorney

Modern Payment Methods and iGaming: Changing the Way We Play Online

Modern Payment Methods and iGaming: Changing the Way We Play Online

Top 3 Websites For Free Comparisons Of Auto Insurance

Top 3 Websites For Free Comparisons Of Auto Insurance

EcoEngineers

EcoEngineers has established itself in California to help companies navigate the carbon disruption and energy transition

How Servicon Scaled and Soared During Pandemic and Continues to Grow with ESG Initiatives

How Servicon Scaled and Soared During Pandemic and Continues to Grow with ESG Initiatives

Who develops esports in LoL

Who develops esports in LoL

Sacramento Fence Repair Escalates as Homeowners Cope with Global Climate Change in Their Own Backyards

Sacramento Fence Repair Escalates as Homeowners Cope with Global Climate Change in Their Own Backyards

California Business Journal | California Business News, California News Media, California business articles | Orange County, Los Angeles, San Diego, Inland Empire, Northern California, San Francisco | Huntington Beach CA 92649 | (949) 648-3815
ALL RIGHTS RESERVED BY CALIFORNIA BUSINESS JOURNAL.
Site Design by 1REALTOUR

No Result
View All Result
  • Front Page
  • Business
  • Finance
  • People
  • Featured
  • Opinion
  • Technology
  • Law
  • News
  • Food
  • Art & Culture
  • Human Interest
  • Education
  • Insurance
  • Real Estate
  • Health & Fitness

California Business Journal | California Business News, California News Media, California business articles | Orange County, Los Angeles, San Diego, Inland Empire, Northern California, San Francisco | Huntington Beach CA 92649 | (949) 648-3815
ALL RIGHTS RESERVED BY CALIFORNIA BUSINESS JOURNAL.
Site Design by 1REALTOUR