contracts provide effective protection for all involved parties. Unfortunately, sometimes one or more parties choose to ignore the terms of a contract, which can lead to litigation.
The wronged party in a contract dispute can suffer damage in many ways. Examples include loss of profits, loss of services and even loss of customers. These parties need a way to mitigate their losses so that they can continue operating their businesses efficiently.
An experienced attorney can explain all of the legal ptions available for a breach of contract. In the meantime, the list below contains several examples of possible damages a North Carolina court may award. Learning about your options ahead of time can help you prepare for a legal consultation.
- Compensatory damages: This remedy allows you to acquire the goods or services promised in the breached contract.
- Punitive damages: As its name suggests, this remedy mitigates your losses while punishing the party who breached the contract.
- Restitution: When a judge hands down a restitution order, the party who breached the contract must pay back any losses sustained in the breach.
- Specific performance: This remedy typically involves ordering the at-fault party to provide the services, goods or money promised in the contract.
Even though contract law can be complex, the purpose of it is to be as fair as possible to both sides. With a solid legal team experienced in handling business litigation, it is possible for you to prevail in a breach of contract case.