Businesses routinely enter into legally binding agreements. When one or more of the parties does not fulfill its end of the agreement or fails to fulfill it completely, then that party is said to be in breach of contract. The remedy available for a breach of contract may depend on the nature of the breach. Courts have identified three different kinds of breach of contract:
A minor breach occurs when an individual does not completely fulfill their agreement. While the other party may not be entitled to declare the contract breached and stop performance, the breaching party may still be liable for damages. A material breach is a breach that goes to the fundamentals of the contract. When a material breach occurs, the wronged contracting party may be able to declare the contract breached, stop performance, and sue the other for breach of contract and recover damages.
An anticipatory breach can occur when one of the parties takes an action that unequivocally signals that the party will not perform. For example, if one party tells the other that it will not pay, the party entitled to payment can sue for damages before the payment is due and can stop work on its part of the contract.
If another party is breaching or threatening not to perform its contract with you, then it is vitally important for you to retain an experienced Maryland business litigation attorney to advise and guide you and to advocate for your rights so that you recover appropriate damages or other remedies appropriate to your case (such as specific performance, restitution, or an injunction). A litigation lawyer from The Brennan Law Firm, LLC will be able to answer any questions you may have regarding your specific case, provide you with insightful advice and counsel, and tenaciously represent you in court.
Call today to begin retaining the skilled assistance you need.