The Negotiation Phrase Book by Angelique Pinet

Author:Angelique Pinet [Angelique Pinet]
Language: eng
Format: epub
ISBN: 9781440530173
Publisher: Adams Media
Published: 2011-07-15T00:00:00+00:00

Breach of Contract

A breach transpires when one party fails to perform what the contract states he has agreed to do. It occurs when the other party cannot perform her own duties, when the offending party does something that goes against what the contract states, or when the offending party simply will not do what’s expected of her. You’ll have to decide how severe the breach is before you decide to handle the matter in court.

For example, if your counterpart delivered goods three days past the agreed-upon ship date but the late shipment didn’t harm your business, you might let it slide this time, discuss it with her to prevent it from happening again, and be on the lookout for any breaches that occur in the future. If, however, you decide that the breach is too significant to ignore, there are many options available to you—and most of them, not surprisingly, involve money.

In addition to assessing the value of your losses, the judge might require the other party to pay any attorney fees that accrued from the time the contract was breached. He might also order the other party to pay “consequential and incidental damages,” money awarded for losses that were predicted if a breach occurred.

Other remedies pertain to the state of the contract itself. If the judge decides on a rescission of the contract, the contract is canceled, all advancements are to be paid back, and all parties are no longer responsible for their portion of the terms.

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