Contracts are a way to protect the interests of your Texas business, and it can be a threat to your financial well-being when the other party violates the terms of your agreement.
As the non-breaching party, you have the right to seek a financially beneficial solution to your legal dispute. Depending on the nature of your breach of contract issue, you could have a rightful claim to damages for your financial losses and other complications. There is much at stake, and you would be wise to act quickly to protect your interests.
After you learn of breach of contract
Ideally, both parties will adhere to the terms of a business contract. However, when one party, for financial or other reasons, does not stick to the contract, it can have negative financial implications for your business. At this point, you can attempt to resolve the issue through non-litigious means, such as discussions and negotiations.
When simple, non-legal means do not work, it may be necessary to move forward with a breach of contract claim. Litigation is daunting, but it could be a reasonable way for you to recover certain damages.
A positive remedy for your business
Fortunately, there are ways that you can recover the financial losses associated with a breach of contract. Through a civil claim, you can seek a remedy for one or more of the following:
- Specific performance
- Financial damages
- Restitution or cancellation
The type of damages that are available to you will depend on the individual details of your situation. From punitive damages to compensatory damages, you have the right to seek a remedy that is positive for your company.
Effectively navigating legal disputes
In business, complications are bound to happen, as are disputes. The key is to know how to navigate these issues toward a positive outcome. When a breach of contract is threatening the health and financial stability of your company, it's time to move quickly and intentionally.
Keep in mind that you do not have to handle these matters alone, and the sooner you put an experienced business law attorney on your side, the sooner you can start protecting your rights and interests.