Contracts are some of the most valuable tools available to businesses of all types and sizes. Legally binding agreements can outline the terms of a relationship between a North Carolina company and other parties, lowering the chance of complications and disputes. These contracts can be custom-tailored to suit the needs of the specific business and the nature of the individual business relationship. If there is a breach of contract, the non-breaching party has legal grounds to pursue recovery.
Options available for remedy
A breach of contract occurs when one party violates the terms of a legally binding agreement between two parties. A breach represents the possibility of financial loss and other complications for the non-breaching party, and it is often necessary to pursue recourse through legal action. While reach situation is different, it may be possible to secure a remedy in the form of compelled adherence to the contract, financial compensation or cancelation of the contract.
To prove breach of contract, the non-breaching party must provide evidence that there was a valid contract signed by both parties. It will also be necessary to establish that the requirements of both parties were clear in the contract and the non-breaching party suffered due to the breach. A breach of contract is often much more than an inconvenience.
Where to start
It is not always easy to know how to move forward after a breach of contract. It may be helpful to seek the counsel of an experienced North Carolina attorney to determine what steps are necessary to secure an appropriate remedy. An assessment of the specific situation may provide clarity regarding the options available after a contract violation.