Material and Ordinary Breaches of Contract
For instance, if you signed car or mortgage loan documents that state payment is owed on the 15th of each month, then a payment on the 16th is a “breach” of the agreement you arrived at with the loan group. With these and comparable cases, a breach might not be so severe as to terminate the contract among the parties. If either party can continue to fulfill their commitments under the settlement, a breach won’t end with the parties being dismissed of their contractual responsibilities.
Still, some infringements are so pressing that they deny the non-breaching entity of the advantage they arranged in the deal. Such cases are cited as “material” breaches and usually end the contract among the parties.
For example, if you consented to buy the specific Aston Martin that was in a famous movie for a fixed price, and you were given another, “run of the mill” Aston Martin, that other party can be charged with a material breach. In that case, you were denied of the advantage of the agreement – a special, one of a kind vehicle.
What do You do if There’s a Breach of Contract?
If your contract has been breached, numerous legal remedies are open to the non-breaching entity (oftentimes called the “injured” or “aggrieved” person). If a monetary value sufficiently compensates the injured person, he or she might be able to regain a sum from the breaching party.
This would put the injured party in either the state he or she would be in if the promise had been fulfilled or the state if the contract hadn’t been made. Case in point, let’s say the aggrieved party requested a particular make and model with specific accessories that went missing. Financial losses can be repaid to the aggrieved person that would allow him or her to obtain the missing accessories.
In some situations, a court may order a party to perform his or her contractual duties by requiring “specific performance.” Let’s say the breaching party has the special Aston Martin in possession but declines from selling it in accordance to the contract terms. The court may order that the contract terms are upheld and the car exchanged.
If you or a loved one are a victim of a breach of contract, the Law Office of Andrew Szocka will assist you right away at (815) 455-8430. You’re entitled to express legal remedies or damages in certain cases. However, with each situation, you have restricted amounts of time in which to investigate these remedies and damages. Contact us today.
***This is not intended to be legal advice and you should consult with an attorney.