There is no question that contracts hold an important place in business dealings between different entities. Having a solid contract in place can help parties avoid disputes altogether or provide a foundation upon which to resolve them. Unfortunately, when one or more parties breach a contract, it muddies the water for everyone.
Even when a contract is well drafted and properly addresses any potential areas of conflict, it could still be broken. What we want our Florida neighbors to understand is that the law offers a choice of legal remedies that could make damaged parties whole once more.
The contract itself is the first solution. We advise people to seek advice from an attorney about any business or professional contract before they sign. This can reveal any weak or unbalanced elements of the contract that might worsen your position in the event of a breach.
When a breach of contract does occur, your lawyer can advise you about which legal remedy will best meet your needs. Some of the most common breach of contract legal remedies includes compensatory damages, liquidated damages, restitution and even punitive damages in some cases. Courts may also award injunctive solutions. This can mean having an unsatisfactory contract cancelled or forcing the breaching party to fulfill the contract.
The most important takeaway we want to offer is that you have choices when it comes to breach of contract in Florida. Finding the right remedy can protect you in the present and give you tools for prevention in your future contracts. Please visit us online to learn more about contract law.