A contract breach can be minor or major. The latter is known as a material breach.
If you are on the wrong end of a broken contract, you may be able to recover the damages you sustained. You may also be discharged from performing any of the duties outlined in the contract.
Let’s review four types of damages you can recover in Florida breach of contract cases, They are: monetary, liquidated, specific performance and attorney fees.
Monetary Damages
If you have lost money because another party failed to perform work or provide products as promised, your losses are considered monetary damages. The amount of your damages can be decided by comparing where you are after the breach to where you would have been if the breach did not occur.
For example, you hired a builder to add a room to your home but he only completed 50 percent of the job. You are left searching for another builder to complete the remaining 50 percent of the project. The money you will spend for the second builder to complete the project are your monetary damages.
Liquidated Damages
Liquidated damages are used to compensate you when there is no clear way to calculate your loss. You and the breaching party can agree on a specific amount for the damages to resolve the case.
Specific Performance
The courts can order specific performance when monetary damages will not fully compensate the injured party. This is particularly helpful in cases involving artistic expressions that are difficult to place a monetary value on.
Attorney Fees
Litigating a breach of contract case can get costly. You have to pay the attorney for his time and cover the court fees, among other expenses. If the contract in question authorizes attorney fees when a breach is involved, you can recover those fees to pay your attorney.
Have you lost money due to a contract breach? What were your damages?
Contact our office to discuss action you can take to recover your damages.
Send us an email or give us a call today (954) 779-7009.
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Tags: breach, contract, damages, Florida, Fort Lauderdale
[...] contactus Real Estate Blog Litigation Blog practiceareas OUR FirmOVERVIEW « Recover Damages in Florida Breach of Contract Cases [...]
[...] A written contract is a legally binding agreement. The parties are obligated to perform services and provide products as promised. Unfortunately, contracts are not always honored. While some end amicably, others are breached. Those broken agreements can cause your business to lose money and force you to file a lawsuit to recover your damages. [...]