When entities sign a business contract, it is generally with the expectation that both parties will abide by the agreement. However, during the course of doing business, there are many issues that could complicate the arrangement and result in contract disputes. In these situations, business litigation may be the only way to move forward, and those involved in disputes Georgia may wish to consider filing breach of contract lawsuits.
If a breach of contract is alleged or occurs, many choose to first attempt mediation or other informal methods to resolve the dispute. When those avenues fail, the next step is typically to proceed with a lawsuit. In this stage, there are different kinds of remedies that can be sought to reach a resolution.
The most common remedy is for an injured party to seek damages. Damages can come in many forms, such as compensatory, punitive, nominal and liquidated. When damages are inadequate, a second type of relief called “specific performance” may be sought. This is generally used when the subject matter concerning the breach is unique or rare. Finally, a non-breaching party may seek cancellation or restitution, which either allows the non-breaching party to be restored to the position it held before the contract breach occurred or voids the contract and relieves all parties of obligations per the agreement.
As evidenced, there are many ways to seek reparation through business litigation when a breach of contract occurs. Most businesses in Georgia seek the advice of experienced business law attorneys, as each situation is unique. Attorneys who focuses on this area of law will be in the best position to discuss the path that best fits their clients’ needs.
Source: Findlaw, “Breach of Contract and Lawsuits“, Accessed on Aug. 10, 2016