Remedies that are often ordered in breach of contract cases

Most any Chicago company will have their customer sign a contract before agreeing to perform any services for them. They outline what they've been contracted to do and outline what happens if outside factors such as time delays or financial issues make it impossible for either party to uphold their responsibilities.

A breach of contract occurs anytime a party fails to fulfill their obligations as outlined in their agreement.

If what's promised isn't carried out by the set deadline, then the nonbreaching party may file a breach of contract lawsuit against the noncompliant one.

If the product or services provided deviate significantly from what was promised, then the recipient of them may be able to file suit. An individual or company can be held accountable for breaching their contract if they fail to provide a promised service or product as well.

Before a decision can be made as to what type of remedy or resolution is appropriate, the breach must first be classified as either an "immaterial" or "material" one. Some of the most common types of remedies offered in breach of contract cases are cancellation and restitution, specific performance or damages.

A nonbreaching party may cancel their contract and file a lawsuit seeking restitution to get back into the position that they found themselves in before the breach occurred.

If specific performance is ordered, then the nonperforming party may have to perform the original services that they were supposed to have. This type of remedy is often only ordered in instances in which a service or product is so unique that there's no one else to fulfill their request.

Damages are one of the most common types of remedies offered in breach of contract cases.

Compensatory ones are awarded to help return the nonbreaching party to the position that they would have been in had there not been any breach. Punitive ones are often offered in addition to compensatory ones to punish the party in the wrong.

Liquidated damages are those that a party suffers resulting from a breach. Nominal ones are awarded when no money was actually lost.

When your company is faced with a lawsuit, you should never trade on experience. If you do, then you may waste unnecessary time and money. A business litigation attorney can find efficient and effective solutions to help you and your company quickly resolve any lingering legal matters in Illinois.

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