Breach of Contract
Contracts are the fundamental building blocks of business relationships. They define the rules by which business partners interact, and when things go wrong, the rights of the parties in a dispute. Often allegations of fraud go hand-in-hand with breach of contract actions. A fraud may occur when one party to a contract induces the other to enter into an agreement based on false or misleading information.
Four elements must exist in order for a contract to exist: (1) parties are capable of contracting; (2) their consent; (3) it’s lawful; and (4) a sufficient cause or consideration is given. If all of these elements exist, then an action for breach of contract exists if one party breaches a material obligation of the contract resulting in damages to the other party, and the party asserting the breach has satisfied its own obligations under the contract.
If you believe that a breach has taken place, how you respond is critical to your success in subsequent litigation. Except in those cases where the breach is “material” and occurs early on in the life of the contract, the party on the other side of the breach must provide the breaching party with reasonable notice of the breach and an opportunity to cure. A lawsuit should only be filed after the breaching party fails to cure after being provided a reasonable opportunity to do so. On the other hand, if you have been accused of a breach, you should demand a reasonable opportunity to cure the breach if it is at all possible to do so.
Harshbarger Law helps businesses and individuals to determine their respective rights when a breach has taken place, or is asserted against them, and assist them in designing and implementing an appropriate legal strategy and response.
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