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Phoenix Breach Of Contract Lawyer
Contracts are entered into in good faith, trusting the other party to perform their duties as promised. Failure to do so breaches the contract and can cause significant turmoil and economic harm. If you have been the victim of a contract breach, there are several avenues of relief available depending on your situation.
- Specific Performance: A court of law can order the breaching party to fulfill the terms of the initial contract. For example, this could be to offer promised services to a lessee, to sell a house at a predetermined price, or to honor a legitimate non-compete agreement. However, in many cases the circumstances will have changed so that specific performance will not rectify the situation. In these instances, damage payments are an alternative remedy.
- Consequential Damages: These require the breaching party to compensate the innocent party for damages incurred from the broken contract. For example, a shipping service that guaranteed delivery by a certain time and delivered a package a day late would have to pay its client the monetary damage that client suffered by not receiving the package on time. The goal is to make the innocent party whole again, as thought the contract breach had never occurred.
- Liquidated Damages: Some contracts have built-in clauses that define damage payments if they are broken. A court order can compel a breaching party to pay these damages as stipulated in the contract.
- Punitive Damages: In some cases, a court may compel a breaching party to pay punitive damages to its innocent counterpart. These damages occur if the breach is particularly negligent or egregious, or if the court wishes to make an example out of the breaching party to deter future action.