Recovery for breach of contract
When a party to a contract fails to perform, the other side may be damaged. This damage often goes beyond the immediate inconvenience of getting less than promised by the contract. The breach can also cost you future profits and other business losses. Some of the types of remedies and damages that may be claimed include:
- Compensatory damages — reimbursement for actual monetary loss
- Consequential and incidental damages — compensation for additional foreseeable losses caused by the breach
- Attorney fees and costs — amounts available if the contract or a statute expressly states they are recoverable
- Liquidated damages — amounts specified in the contract that are payable for particular breaches, such as late or substandard performance
- Specific performance — court order requiring the breaching party to fulfill the terms of the contract
- Punitive damages — penalty for a party’s objectionable behavior, meant to punish the breaching party and discourage other parties from acting in a similar manner
- Rescission — cancellation of the contract, with both sides excused from further performance and payments made under the contract returned
- Reformation — change in the terms of the contract when the court believes there was an honest misunderstanding by the parties about what was to be performed
Affordable alternatives to a trial
The cost of traditional litigation can easily exceed the amount of the contract. Fortunately there are various means of alternative dispute resolution (ADR), including mediation and arbitration, which may be less costly and quicker than civil lawsuits. Carey M. Fischer, P.A. has successfully represented clients in arbitration and mediation proceedings, and has resolved disputes prior to trial. In the process, clients have been able to get back to doing what they do best in business and in their personal lives.
Contact an experienced Fort Lauderdale law firm to get your business moving again
If your business has been damaged by someone else’s conduct, delaying the exercise of your rights could mean losing them. Recovering damages could mean the difference between profitability and insolvency for your company. Call Carey M. Fischer, P.A. for advice and counsel, at 954.524.3553 or contact the firm online to schedule an appointment.