Damages and Remedies Available in Texas Breach of Contract Cases
"What Every Business Owner Needs to Know When Facing a Partnership Dispute in Texas"
Have you been a victim of a breached contract - when the other party failed to meet their end of your business agreement? You probably have many questions, for instance: how do I know if I have a valid breach of contract claim, and what damages may be available to me? In order to determine available damages, you need to first make sure that there was a valid contract in place, you attempted to perform the contract, the defendant breached the contract, and you suffered damages as a result.
Breach of contract cases in Texas can be confusing, and it is in your best interest to sit down with an experienced Houston business litigation lawyer to find out your options. There may be damages due to you, but it may depend on what the contract stated regarding damages, the subject matter of the contract, and what damages were incurred as a result of the breached contract.
What type of damages or remedies may be available to the plaintiff?
- Liquidated Damages - money payable to the injured party, determined either by a contract stipulation regarding a possible breach, or by a court judgment.
- Specific Performance - when a court orders a performance to be executed as stated in the contract. This usually occurs in real estate transactions.
- Consequential and Incidental Damages - money to compensate foreseeable losses caused by the breach.
- Compensatory Damages - money to compensate your losses.
- Loss of Use - money to compensate the time it takes to repair damages.
- Loss of Credit Reputation - if loss of credit was incurred or the breach forced the plaintiff into bankruptcy, then compensation is available.
- Rescission - when money is returned as both parties cancel their contracts and are excused from performance.
- Restitution - gains-based recovery - for example, one party gives money back, and the other party gives back goods.
Also, according to Texas law, plaintiffs can recover attorney fees in breach of contract cases, if it is provided for in the contract. It is always wise to seek the advice of an attorney in breach of contract cases. Contact the Voss Law Firm and let Texas business litigation lawyer Bill Voss represent your business if you have suffered a breached contract. Call us today at (866) 276-6179.
It is also in your best interest to order a FREE copy of our book: Business Disputes - Critical Information for All Business Owners.
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