Recourse for a business after a breach of contract

On Behalf of | Jul 2, 2022 | business litigation |

Business contracts are some of the most beneficial tools available to a North Carolina company. These agreements outline the rights and responsibilities of two or more parties that are going to initiate a business relationship or transaction. Contracts provide protection for all involved, lowering the chance of a dispute. However, a business can take certain steps to protect its interests in the event of a breach of contract. 

When to sue 

A breach of contract is much more than simple frustration or inconvenience. It represents the possibility of financial loss and other issues that may affect the operation of the business. In some cases, it is possible to resolve a breach of contract matter through out-of-court negotiations. If this is not possible, a business may determine the best way to halt the damage and seek recompense for losses is through a lawsuit. 

In a breach of contract lawsuit, the non-breaching party has the right to seek compensation for losses, coverage of expenses and other damages related to the breach. A court may award damages, or it may rule that the breaching party must adhere to the terms of the agreement. Other remedies may include specific performance or restitution. 

Seeking a beneficial outcome 

A breach of contract is a frustrating and costly matter for a North Carolina business. After a breach, it is helpful to speak with a business litigation attorney regarding the most effective course of action for the specific situation. There are legal options that may allow for the recovery of losses and other solutions.