A breach of contract occurs when one party fails to comply, whether partially or fully, with a binding contract. It’s vital to involve a business litigation attorney if a contract breach transpires in order to protect your company. Resolving disputes often require quick thinking, time-sensitive actions, and legal moves that will have a lasting impact on you and your company.
Contact us today for a breach of contract consultation.
You may be wondering if pursuing legal action is worthwhile. Take into consideration what will be gained: company stability, asset recovery, payment of damages, and more. The Clark & Smith attorneys have extensive experience dealing with complex contract breaches. Additionally, we have a network of people who can aid us in your breach of contract case such as forensic accountants and medical doctors.
4 Types of Contract Breaches
The legal action required for a breach of contract depends on the kind of breach that occurred. The four types of contract breaches are:
Anticipatory breach – If your partner has announced that he has intentions to break his part of the contract at a later date, this is known as an anticipatory breach.
Actual breach – In every contract, certain people have specific responsibilities. If your partner breaks one or all of his contractual duties, you can sue for breach of contract.
Minor breach – Don’t be deterred by the word “minor.” In most contracts, even minor or partial breaches can have significant consequences.
Material breach – A material breach occurs when a finished product does not match the terms and conditions laid out within the contract.
If you experience a contract breach, it’s important to act fast to minimize future damages. Fortunately, the Clark & Smith team has extensive experience regarding breach of contract cases and can help with yours.