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Monetary remedies for a breach of contract claim

On Behalf of | May 29, 2019 | Commercial Litigation

When the terms of a business contract are violated, the potential financial ramifications the situation can have on a company can be substantial. Business owners in Louisiana who encounter similar forms of conflict may wish to take steps to seek restitution for their losses. However, some might not be fully aware of the various types of legal remedies available when attempting to resolve a breach of contract claim.

One potential legal remedy for a breach of contract pertains to restitution for losses. If the other party is deemed culpable of failing to provide services or products that were paid for, the court may order this party to pay back the full amount in restitution. The court may also order the tortfeasor to pay compensatory damages to allow the other party to pursue that which was agreed upon in the initial contract through other means.

Should the court deem the actions of the breaching party reprehensible, it may also order those involved to pay punitive damages as punishment. In scenarios in which a breach of contact failed to result in harm for either party, the court may award nominal damages. In some cases, the court may also choose to order the breaching party to perform or provide that which was promised in the original arrangement or order the cancellation of the agreement.

Understanding each of the available options involved in seeking a resolution for a breach of contract could prove vital to making informed choices during legal proceedings. Since the civil justice system can be complex, those who face similar circumstances could benefit from obtaining legal counsel early on for guidance on the best course of action to take. An attorney can evaluate the circumstances a client in Louisiana is facing and assist him or her in pursuing the restitution entitled through the proper channels.