Business Lawyer Arlington VA

Business Lawyer Arlington VAThere are various remedies which exist in contract law. These remedies can range from damages to one party repudiating the contract, to rescinding the contract, seeking specific performance, an injunction or obtaining some sort of compensation. Damages are the most common type of law remedy when it comes to breach of contract. It relates to the parties’ relationship. You can consider damages from two standpoints:

  • Unliquidated damages: Damages in which the court assess. The purpose of unliquidated damages is to compensate the plaintiff for the losses he or she has suffered as a result of a breach of contract.
  • Liquidated damages: Damages that the parties have agreed upon between them. With liquidated damages, the parties have stipulated that a particular sum must be paid. If the sum represents a genuine calculation from a pre-estimated point of view, the court will ensure that it is enforced as liquidated damages. However, if the amount does not appear genuine and instead appears simply as a clause which seeks to put the other party in fear in order to perform (“in the event of breach you will pay me this much more…”), it is not referable to the value of the contract. This will amount to a penalty and the courts will not enforce it. There is also something called an acceleration clause that says in circumstances where a breach occurs, you can accelerate what is owed to you (“I must receive payment by this time, and if there is a breach I must receive it within a month”, etc). That is not a problem in court and will not incur a penalty.

Consider which of these two damages you will be seeking in your case. When you look at damages, remember that they are your legal remedy to a breach of contract. It is an award of money used to compensate the injured party, not to punish the breaching party. If there is a breach, then the contract has not reached the point where it has been performed, so the innocent party is placed in a position to receive what they would have had the contract reached fruition.

Contact an Arlington VA Business Lawyer Today

If you have incurred what you consider to be a breach of contract and your breach meets all of the qualifications listed above, you should reach out to a business lawyer Arlington VA clients depend on from May Law, LLP. Oftentimes the initial consultation is free and the business lawyer will work on a contingency fee basis. This means that you will not have to pay him or her if you lose your case.

On the contrary, if you have been sued for breach of contract or are being threatened to be sued for breach of contract, it is also very important that you contact a business lawyer in Arlington VA. Discuss what is going on with your specific situation and make sure that you have a knowledgeable business lawyer looking out for you. They will do their very best to win your case and bring you the justice you deserve.