One of the most important tools available to a Texas business is a contract. These legally enforceable agreements can establish and outline the terms of a relationship between a company and clients, employees, third parties and others. They can also include terms that outline what will happen in the event that a breach of contract occurs and how the non-breaching party can seek the most appropriate remedy after this type of dispute.
Going to court
A breach of contract represents the possibility of financial loss and other issues that can impact a company’s success and well-being. It is critical to address a breach of contract as quickly as possible, whether it is through discussions with the other party, negotiations or court. Some of the most common remedies for a breach of contract include:
- Damages, which can include compensatory and punitive damages
- Cancellation and restitution, which happens when the contract is canceled, and the non-breaching party seeks full recovery of any losses
- Special performance, which is the court-mandated completion of the terms of the contract or an alternative remedy
Dealing with a breach of contract promptly may help a company halt any ongoing damage and preserve its long-term interests.
Fight for a beneficial outcome
Texas businesses will benefit from the guidance of an experienced business law attorney when navigating issues related to a breach of contract. It may be possible to seek recovery of losses and other types of damages through a civil claim or other means. An assessment of the terms of the contract and the circumstances of the breach of contract will reveal which legal options are available.