Business contracts are some of the most important tools available to a Massachusetts business. These agreements provide legal and financial protections between two parties who are looking to do business together. Contracts can be used with suppliers, customers, employees and third parties, and it is possible to customize the agreement to suit the details and objectives of the individual situation. Breach of contract is inconvenient, but it can also lead to financial loss and other complications.
When a business is experiencing issues related to a breach of contract, there are legal options available. It is possible the company could pursue damages through certain actions, including filing a lawsuit against the offending party. Before pursuing this option, it is important to attempt to resolve the problem through out-of-court options, such as discussions and negotiations. Through a civil claim, a business can pursue the following remedies for a breach of contract:
- Compulsory adherence to the terms of the contract, enforced by the court
- Damages, including punitive damages, liquidated damages and more
- Cancellation of the contract and restitution paid by the responsible party
The most appropriate remedy depends on the losses experienced and the impacts of the breach of contract had on the Massachusetts business. While litigation can be a costly and lengthy process, it may be the most appropriate way to recover losses, especially when the impact is significant and detrimental. It is beneficial to first discuss a breach of contract with an experienced business litigation attorney who is able to evaluate the situation and determine the legal options available.