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What can you do to overcome a breach of contract?

On Behalf of | Nov 7, 2023 | Business & Commercial Law

Georgia law allows you to seek a number of remedies if you are the victim of a breach of contract. Typically, these remedies involve money being transferred to you from the defendant. However, it’s also possible that the other party to the contract will be required to provide the goods or services described in the contract.

Possible financial remedies

If a contract is breached, business law says that you may receive payment for any actual losses that you incurred. For instance, if you paid $500 for a good that was never delivered, you would be entitled to $500. You could also receive punitive damages in excess of what you paid in an effort to punish the defendant for an especially heinous breach. Finally, liquidated damages are negotiated as part of the contract, which means that you’ll receive a fixed sum in the event of a breach.

When money isn’t enough

There are times when simply receiving a financial award isn’t enough to fix the problem that the defendant created. For instance, say that you ordered a product from the only company that is capable of producing it. In such a scenario, that company may be ordered to follow through on its promise to you. It is also possible that the contract will simply be canceled if there is no chance that the defendant will be able to meet their obligations.

Whether a breach of contract is intentional or not, you have the right to seek relief if one occurs. In addition to taking a defendant to court, it may be possible to resolve a dispute through mediation or other means. Depending on the severity of the breach, it may be fixed simply by renegotiating the deal or giving the defendant another chance to meet their obligations.