This article aims at focussing on the various helpful legal remedies which, your business might consider while dealing with a breach of contract.
Running a business leads you to sign contracts with multiple parties including suppliers, clients, and various other entities for carrying out the operations efficiently, ensuring its smooth functioning. When it comes to a business contract, two or parties basically agreed upon a set of terms and conditions, violating which will lead them to face adverse consequences. If one party violates a business contract i.e., a breach contract, and harms the interests of other party, then the latter can always seek help of a commercial litigation lawyer in Sydney, who will help him to seek justice.
Here in this blog, we’re going to discuss on the various remedies, which you can consider to get the best kind of compensation for such kind of a contract dispute. However, seeking expert guidance of a specialised lawyer to get through this process is always expected.
Compensatory damages
This happens to be the most common type of legal solutions which, you can choose for mitigating the issue of a breach of contract. While calculating the compensatory damages, you need to consider the actual losses being sustained by you because of the breach of contract and they fall mainly into two categories including, expectation damages, and consequential damages.
Expectation damages is mainly all types of general damages which, you have suffered from as a direct result of the breach. On the other hand, consequential damages are the losses which, come as a natural consequence because of the breach and often consists of the amount of profit which, the company has lost due to the same.
Specific performance
It is typically a form of remedy in which the court gives order to the breaching party for performing an end to the bargain. Though monetary damages are often preferred as a better remedy than specific performance, the latter one can be considered as the ideal option when monetary damages won’t be chosen as the one for receiving adequate compensation.
Injunction
Another remedy which, you can consider is injunction. It is considered as much similar to the specific performance but in this case, the court mostly gives an order to the breaching party to not do anything. The injunction can be temporary or permanent. In case of a temporary injunction, they are ordered when the litigation is being pending for preventing potential damage. On the contrary, the permanent injunction is mainly issued by the judge as part of the final proceeding or ruling in the case.
The bottom line
Some of the other potential remedies which, you can consider are liquidated damages, recession, and nominal damage. But none of these solutions can be dealt with without having specialised knowledge and expertise. Hence, it is always recommended to seek help of a well-known commercial litigation lawyer in Sydney who is known to be exceptionally competent for offering skilled legal representation to companies for dealing with the breach of contract and achieve a successful resolution. Hence, always evaluate the level of experience, knowledge, and online customer reviews to find out a competent lawyer to rely upon for the case.
The author is known as a highly skilled commercial litigation lawyer in Sydney who has attained years of experience in helping companies to deal with breach of contract. He also likes to write informative blogs and articles on a number of relevant topics as well.