No matter what type of contract you have entered into, you do so with the idea that you and the other party will both adhere to its terms and conditions. When you find yourself in a situation where a breach of contract has taken place, you can feel angry and helpless at the same time. The best way to avoid the frustration of a breach of contract is to start off by having your contract drafted by an experienced attorney. A well-crafted contract will be written with an eye to reducing your exposure to liability and will provide you with a remedy in case of a breach. If, however, you have not taken those precautions and find yourself unsure of how to enforce your contract, the knowledgeable attorneys from the Philadelphia law firm of Bochetto & Lentz can help.
Breach of contract is the legal term that describes when one party to a contract fails to uphold or fulfill their obligations as detailed within the agreement. In case of a breach, the injured party is generally entitled to what as known as a relief or remedy. The law offers several different options for how the wronged party can be made whole. These include providing them with damages, requiring specific performance of the terms of the contract, or a complete cancellation of the contract and restitution. Many people simply collect damages and move on to find another party to fulfill their needs, but there are some situations where what is most important is having the contract obligations fulfilled. In these cases, specific performance is sought.
Specific performance is the remedy that is most frequently pursued when the wronged party in a contract finds that being provided with damages does not meet their needs. It requires the party who has breached the contract to specifically provide the service or performance that was originally called for within the contract. Generally, this is offered when the failure to get the contract fulfilled leaves the wronged party in a worse position then they would have been if the contract terms had been met.
In lieu of performance, damages can be sought in response to a breach of contract, or the contract can be cancelled. Damages can include:
- Compensatory, which provides payment that puts the non-breaching party back to the position they had been in before the breach occurred.
- Punitive, which act as punishment for having breached the contract
- Nominal, which generally do not represent a monetary loss
- Liquidated, which represent actual damages suffered
If it is preferable, the contract can simply be canceled and then the non-breaching party can sue for restitution.
If you have entered into a contract that has been breached by the other signor and you need legal assistance, contact the Philadelphia law firm of Bochetto & Lentz today. We have a record of successfully representing our clients who find themselves the victims of breach of contract.
Learn more about what to do in a Breach of Contract HERE.