New York Breach of Contract Dispute Resolution
We will help you resolve breach of contract disputes, which originated in New York or have any other connection to New York State. We are determined to quickly review your case and suggest the most effective and efficient solution. It could be an out-of-court solution, like negotiations, mediation, arbitration, or litigation. In any scenario, we will guide your step by step in the process of protecting your interests.
BREACH OF CONTRACT IN NEW YORK
- What is Contract and Its Elements?
- What Is Breach of Contract in New York?
- Types of Breach of Contract
- Types of Damages
- How Can We Help?
There should be a fully executed valid contract that one of the parties (non-performing) breached
Breach of Contract
There may be different types of breach of contract, but all of them must have certain elements
There must be damages as a direct result of the breach of contract by the non-performing party
The performing party can recover damages caused by the other party’s breach of contract
What is Contract and Its Elements?
A contract is a legally enforceable agreement between two or more parties to do something or refrain from doing something. Both written and oral agreements can be valid and enforceable. However, a contract must have the following elements: (1) offer, (2) acceptance of the offer, and (3) consideration. In other words, one party makes an offer, the other party accepts the offer made by the first party, and both parties get their consideration, i. e. provide each other with something of value.
What Is Breach of Contract in New York?
Breach of contract is a failure by one of the parties to comply with the terms of a legally binding agreement. For example, a party fails to provide goods, services, payment, does not meet deadlines, or misinterprets the contract. Breach of contract in New York State must have the following elements: (1) valid contract, (2) performance by one party (plaintiff), (3) failure to perform by the other party (defendant), (4) damages resulting from the defendant’s failure to perform.
Types of Breach of Contract
A party to a contract can breach it in different ways. The failure of a party to fulfill its obligations can only relate to a specific part of the contract without jeopardizing the entire contract. Such a breach would be considered minor. A minor breach does not release the other party from continuing fulfilling its obligations under the contract. However, if a party’s failure to fulfill its obligations results in the impossibility of performing the contract, this is a material breach. In case of a material breach of contract in New York, the other party can stop fulfilling its obligations under the contract and sue for damages.
Types of Damages
There are two main types of damage resulting from a breach of contract in New York: (1) actual or direct damages and (2) consequential damages. Compensating for the actual damages, the court aims to put the non-breaching party in the position it would have to be if the other party did not breach the contract. For example, compensation for the actual damages could be the difference in the value of goods or services provided and promised under the contract. Consequential (or special) damages do not arise as an immediate and necessary result of the breach of contract. However, they have a direct link to the breach of contract. For example, consequential damages can include loss of clients, loss of profit, etc.
How Can We Help?
If you have a breach of contract case or another business dispute in New York, don’t hesitate to contact us. We will help you quickly evaluate the situation and maximize your chances of getting adequate compensation in your business dispute.
QUESTIONS & ANSWERS:
Breach of a contract in New York entails the right of the non-breaching party to claim damages. The legal consequences of a breach of contract in New York vary depending on the violation and type of damages resulting from the breach.
Business disputes based on breach of contract in New York can be resolved via negotiations, mediation, arbitration, or litigation.
When a party to a contract notifies the other party of the inability to fulfill the obligations under the contract, it is an anticipatory breach.
The non-breaching party should not make additional/ongoing expenses after being notified about the anticipatory breach.
When it is difficult to foresee the damages resulting from a breach of contract, the parties may stipulate “liquidated damages” as a certain amount or percentage to compensate for damages in the event of a violation.
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