Business contracts are fundamental to the success of a company. You expect the other party to fulfill their obligations and they expect you to fulfill yours. Unfortunately, these contracts don't always have the happiest ending.
If any part of the contract is broken, it means that a breach has occurred and legal action should be taken. To maximize the effectiveness of the action you take, consider terms of your breach.
Which of the following categories does it fall into?
- Anticipatory breach
- Fundamental breach
- Minor breach
- Material breach
An anticipatory breach means that a breach is bound to happen. You may be able to file a lawsuit in an effort to collect the damages caused as a result of the breach. When there is a fundamental breach, it means that one party is able to legally break the contract with minimal repercussions.
If you've experienced a minor breach, you can only sue for actual damages. A material breach, however, means that you can recover other damages as well by filing a lawsuit.
Why do I need an attorney?
It's not always easy to determine what legal options are available to you. In many cases, business owners walk away empty-handed or with far less than they actually could have recovered. With a legal advocate on your side, the decision making isn't left entirely up to you.
Your attorney can evaluate the breach of contract and pinpoint the obtainable damages. An experienced attorney will be able to explain all of this and more to you, which can prevent unnecessary future losses.
Don't hesitate to get in touch with a Los Angeles business lawyer at The Mirkhan Law Firm if you've suffered from a breach of contract. We are eager to guide you to the most favorable outcome possible!