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Consequences of breaking a contract occur when one party of a contract does not
keep one or more of the agreed upon terms of a contract. 3 min read
1. What Is a Breach of Contract?
2. How Does a Breach of Contract Impact a Small Business?
3. What Happens After a Contract (in General) Is Breached?
4. What Can Happen if You Breach a Sales Contract
5. Remedies for a Breach of Contract
A contract exists.
The contract was broken.
You lost money.
The violating party was responsible.
1. Mediation
2. Binding arbitration
Did the breach cause you significant benefit lost you anticipated?
Can you receive compensation for the breach?
Is the breaching party known for handling situations where there is a
breach?
Did the breaching part act fair and in good faith?
Was the breach within the breaching party's control?
A buyer can sue if the seller fails to live up to obligations. The amount of
restitution depends on the loss. Many times, there is an arbitration clause to
minimize litigation costs for both parties. In that case, the seller and the buyer
must follow the arbitrator's recommendation.
Try to remedy contract disputes without the courts since litigation can be costly.
Let a lawyer look over your contracts to avoid misinterpretation by you or the
other party.
If you need help with reviewing a possible breached contract, you can post your
legal need on UpCounsel's marketplace. UpCounsel accepts only the top 5
percent of lawyers to its site. Lawyers on UpCounsel come from law schools
such as Harvard Law and Yale Law and average 14 years of legal experience,
including work with or on behalf of companies like Google, Menlo Ventures, and
Airbnb.