Contract disputes are unfortunately an inevitability in the course of doing business over the long run. There are intentional breaches, inadvertent breaches, breaches caused by a third party, and in some cases, contracts that have become impracticable or even impossible for one or both parties to perform.
When confronted with the headache that a business contract dispute represents, you may have different reactions. Like many, you may be overworked, overstressed, and simply want to resolve the dispute as efficiently as possible. Sometimes, however, a speedy resolution is not feasible, especially when another party to the contract maintains that there is no dispute to be resolved or claims, incorrectly, that an adequate remedy has already been seen to.
When you are unable to resolve a business contract dispute yourself, the services of an experienced Bay Area contract dispute attorney may prove invaluable.
Both Legal and Equitable Remedies May Be Available to You
The most common measure of damages arising from a breach of contract is money damages. Money damages is a form of legal damages, and include sub-categories of compensatory (expectation) damages, incidental damages, restitution, unjust enrichment, and, some cases where there has been an egregious breach, punitive damages. Such damages are awarded in one of the state's civil courts at the end of litigation in which the plaintiff has prevailed over the defendant.
As such, if you are averse to the time and expense of pursuing a breach of contract claim in court, you may wish to utilize mediation or other informal dispute resolution to reach a mutually agreeable resolution with the other party or parties to the contract. In other instances, money damages, whether obtained in court or through informal means, may not be satisfactory. Here, only an equitable remedy will suffice.
Equitable remedies are about fairness and will typically only be awarded when legal remedies such as money damages are insufficient. For example, you business contract dispute may involve something unique - something that cannot be replaced with money alone - such as a piece of land, personal property, or other goods for which there is no substitute.
Understanding Your Options In Handling a Business Contract Dispute
An experienced San Jose business contract dispute attorney will work to protect your legal rights as concerns the contract you have entered into. A thorough discussion of the specifics of your dispute will identify the existence of any legal claims, and the appropriate strategy for obtaining the best possible resolution. Sources: https://www.law.cornell.edu/ucc/9