A contract is a binding agreement between two or more parties to do or not do something in return for compensation or reward. Breach of contract law helps provide legal protection when one party fails to live up to the terms of an agreement that they have made with another party, by providing remedies like monetary compensation and specific performance (meaning they are legally required to perform their promise). This piece covers what happens when you breach a contract according to our friends at Mahdavi, Bacon, Halfhill & Young, PLLC, whether it’s intentional or unintentional, and how you can avoid this type of problem in the future.
The Legal Consequences of Breaching a Contract
If you’re thinking about breaching a contract, you should first be aware of the legal consequences that can come with it. Depending on the severity of the breach, you could be looking at anything from a small fine to jail time. If you’re found guilty of breaching a contract, the court will order you to pay damages to the other party. The amount of damages will depend on the severity of the breach and how much the other party has lost because of it. In some cases, you may also have to pay the other party’s legal fees. If you’re thinking about breaching a contract, it’s best to consult with an experienced breach of contract lawyer Manassas, VA beforehand so that you can understand all of your options and potential consequences.
How to Protect Yourself Against the Consequences
A breach of contract is a serious matter that can have legal consequences. If you are accused of breaching a contract, you should immediately seek the advice of an experienced lawyer. There are many ways to protect yourself against the consequences of breaching a contract, but each situation is unique. An experienced lawyer can help you understand your options and choose the best course of action for your particular case.
The Complications with Getting out of an Agreement
Have you ever made an agreement with someone, only to back out later? Maybe you didn’t think the terms were fair, or you had a change of heart. Whatever the reason, breaching a contract can have serious consequences. If you’re thinking of breaking an agreement, it’s important to understand the potential risks first. One big risk is that your breach could affect future agreements you enter into with other people and businesses. For example, let’s say that you’ve signed a five-year lease on an apartment for $2,000 per month but decide after one year that you want to move somewhere else. Your landlord might not be happy about this and may refuse to sign another lease for any price. So if the landlord won’t let you out of your current lease (the original contract), then this breach could mean trouble for any future agreements as well.
What Liability May Follow From Failing to Perform on Time
If you’re sued for breaching a contract, the court will first look at whether you actually breached the contract. If you did, the court will then look at whether the other party was harmed by your breach. The amount of damages the non-breaching party is entitled to will depend on how much they were harmed by your breach. If the breaching party can prove that they would have been better off if the contract had been performed as agreed, they may be able to recover consequential or incidental damages. These are damages that are not directly caused by the breach, but are a result of it.
If you are having issues with a breach of contact, reach out to an attorney today for help with your case!