Naperville Contract Attorney
In an ideal world, an agreement would be initiated, all involved parties would gain from the agreement and be happy with the results, and no discord would occur. In the real world, this does not hold true. Delays, financial problems, and unexpected events are all too common and can lead to prevention or hindrance in the fulfillment or obligations of the contract. Known as a contract breach these happen all of the time and are one of the leading issues handled by each Naperville Illinois contract attorney from The Law Offices of Konrad Sherinian.
Understanding the term ‘Breach of Contract’
A contract between two or more parties lays out obligations or duties that are legally to be met by everyone who enters into the agreement. By law, if one party does not fulfill their duties, it is considered to be a breach. A breach could include:
- When the duty or obligation is not completed within a certain time
- Does not perform in a manner conforming with the terms
- Does not perform the duty or obligation at all
It is possible for a breach to include one or more of the aforementioned. A breach can be material or immaterial with the latter typically not involving any monetary compensation.
After a Breach of Contract
As soon as a breach of contract happens, or is alleged, one or both parties might seek enforcement on the contract terms. It is also possible that a party may contact a Naperville contract attorney to recover damages if there were significant financial losses as a result of the breach. Should informal attempts at a resolution, or legal mediation, fail, you may be able to file a lawsuit. In general, lawsuits can be very time consuming and costly which is why out of court options, such as using a legal mediator, should be sought first.
Depending on the breach and the terms of the contract, the affected party may be able to seek remedies such as:
- Damages: Including monetary compensation, nominal damages, punitive damages, or liquidated damages.
- A Certain Performance: The court may order the performance or completion of a certain duty.
- Cancellation of the contract and restitution: The affected party may choose to cancel the contract and sue for restitution which means they will enter into a position that occurred prior to the breach.
Have You Experienced a Breach of Contract?
Whether you are the party accused of breaching a contract or a party who has been affected by a secondary parties’ breach, a Naperville contract attorney from our firm would like to speak with you. We understand that there may be significant assets at stake and can let you know what options may be available. When you choose our firm, you may benefit from:
- Our years of experience
- Our tenacious, aggressive approach to business disputes
- Our ability to resolve even the most complex cases
- Our readiness to go to trial
- Our impeccable communication
To discuss your legal options, please call a Naperville contract attorney from The Law Offices of Konrad Sherinian, LLC today to find out how we can help you with your legal situation.