What damages can be claimed for breach of contract?
Our Morgan Law Group attorneys in Florida know that business contracts are a key element to success for individuals and companies alike.
Generally, the idea behind a business contract is to ensure all parties involved uphold their end of the agreement, and that they are protected legally when one does not.
Whether a contract is written or oral, it can be legally enforced.
What are the Legal Remedies for Breach of Contract in Florida?
When it is time to take legal action against a person or party for breach of contract, our clients may pursue all applicable damages suffered from the terms not being fulfilled.
That may include:
- Compensatory Damages
Compensatory damages are the direct financial losses incurred by the breach of contract.
- Consequential Damages
Consequential damages are those that were incurred indirectly by the breach. For instance, if one party ordered a piece of equipment that was never delivered, the breaching party may have to pay for any payments that were made towards the equipment, and the additional expenses that were incurred when ordering replacement equipment.
- Incidental Damages
Incidental damages are expenses incurred by the non-breaching party to avoid other direct and consequential losses caused by the breach of contract.
- Liquidated Damages
Liquidated damages are terms outlined in the contract that state what will happen if one party breaches the agreement.
When we can prove a breach occurred, the defendant will usually be required to pay the number of damages specified in the contract.
- Punitive Damages
Punitive damages are awarded to punish the breaching party for their behavior. Punitive damages are often the result of breaches that also involve a tort, including one for embezzlement or fraud.
Contact Morgan Law Group in Florida for a Free Case Assessment Today
If your business has been negatively impacted by a breach of contract, our Florida business litigation attorneys can help you pursue the breaching party for the full extent of damages their behavior has caused.
Contact our Morgan Law Group attorneys in Florida today at 888-904-2524 for a free case evaluation. We can help you understand your complete legal rights and options to get your business back on track.