Leesburg Breach of Contract
Contracts are essential for any business, and they form the foundation for all sorts of relationships, including those with employees, vendors, and clients. Unfortunately, contracts are also broken all the time. Although you might hope that the other side always lives up to their end of the bargain, that simply is not the case.
A Leesburg breach of contract attorney can help. Our legal team can review the contract and determine if there was a breach. We can then help you determine possible remedies. Whether you are trying to enforce a contract, or if you’ve been accused of breaching an agreement yourself, we can help.
What Is a Breach of Contract?
The typical business contract involves an agreement between two parties. One side agrees to provide goods or services, and the other side offers to pay money or provide their own goods or services in return.
At base, a contract is a mutual obligation. And a contract should lay out details of that obligation. So an agreement to provide products should identify the amount, quality, specifications, and the cost. The agreement should also spell out when the other side will make payment.
Either side can breach a contract by failing to follow through with the agreement. Virginia Code § 59.1-507 identifies when a breach is sufficiently “material” to support a lawsuit. For example, the contract could define what constitutes a material breach, or the breach is a substantial failure to perform an essential element of the contract. When a breach is material, the other side can seek remedies in court.
Pursuing Remedies for a Breach of Contract
Any breach can significantly harm your company, raising the costs of doing business and possibly threatening your business relationships. At Simms Showers, our Leesburg breach of contract attorney carefully reviews what remedies you can seek, such as:
Cure. The breaching party might be able to get into compliance with the contract to maintain the business relationship.
Damages. Often, you’ll need to buy goods or services at a higher price when the other side breaches your contract. You can seek compensation to make up for the difference in what you paid.
Consequential damages. A contract breach could shut down your business, leading to business losses. In some situations, you can seek money damages for these losses which flowed from the other side’s breach.
Liquidated damages. The contract might state an amount that each side has to pay. Liquidated damages provisions are helpful when it might be difficult to calculate your actual damages.
Specific performance. In rare situations, you can force the other side to go ahead with performance of the contract. For example, the goods you are seeking could be unique or very hard to find. Specific performance is available only when damages cannot provide an adequate remedy.
Rescission. You might want the contract torn up so that it is no longer in effect. This is rescission.
Contact Us Today
The attorneys at Simms Showers can meet to discuss how to resolve a contract dispute in a confidential and cost-efficient manner. Please call us today to schedule a time to meet.