Breach of contract can be costly

If the world were prefect, any agreement made would be upheld consistently, and both sides would be satisfied with the agreement’s outcome. However, the world is not perfect — especially the business world. For this reason, breach of contract can be a major problem among business owners in Massachusetts.

A breach of contract occurs when two parties have reached a certain agreement but one party fails to fulfill his or her contractual obligations. Perhaps the failing party simply did not complete a task in a timely manner or did not perform according to the agreement’s terms. Maybe he or she failed to perform altogether.

For instance, Company A has contracted with Company B to purchase Company B’s products to be delivered by Friday morning. Company A states that time is of the essence, so the products have to be delivered on time. If Company B delivers these products to A on Saturday morning, thus hurting Company A’s operations, then Company B may be held liable for the breach of contract.

A breach of contract can potentially cost a business owner thousands of dollars and even his or her reputation. Fortunately, anyone in Massachusetts who suffers harm due to a contract breach has the right to file a lawsuit against the party who committed the breach, seeking damages. Compensatory damages are designed to help the harmed party to recover from the effects of the breach. An attorney can help to ensure that one’s rights and best interests are upheld when seeking justice following a breach of contract.

Source: FindLaw.com, “Breach of Contract and Lawsuits“, Accessed on Nov. 14, 2017