Breach of contract is one of the most common legal actions handled by our Chicago business attorneys. Ordinarily, a party (whether it be a business, executive, entrepreneur or an individual) must perform under their business contract unless both parties to the contract agree to a change in contractual terms. Any deviation from the specific terms of the contract could be found to be a contractual breach. The breaching party is often liable for damages incurred by the non-breaching party. A related claim is intentional interference with contract (intentionally damaging contractual relations of another).
Several situations may give rise to a breach of contract claim. For example, a party to the business contract may do something that violates a term of that business agreement; a party may refuse to perform its obligations under the contract (such as delivering product or making payment); or a party may act (or fail to act) such that it makes it impossible for the other party to perform under the terms of the contract.
In general terms, to prevail on a breach of contract claim the the following criteria must be shown:
» The existence of a valid business contract;
» Knowledge of the business contract on the part of the defendant or that it was readily apparent to the defendant;
» An intentional interference that causes a breach of the contract; and
» Economic damages suffered by the non-breaching party as a result of the breach party's business contract interference.
Most often, the fundamental issue in breach of contract litigation is ascertaining the intent of the parties, which is the court's primary objective. The intent of the parties sets out the parties expectations to the agreement, the extent of the parties duties and obligations, what the parties expect from the business transaction, how the parties have allocated the risks of the transaction, and what the consequences of the breach of contract will be. Learning the true intent of the parties as understood by the parties involved is generally reflected by the four corners of the business agreement. Thus, it's crucially important to always have a well written business agreement in place that properly reflects the business transaction and the parties duties and responsibilities of that particular business transaction.
» Breach of Promissory Note
If you are involved in a contract dispute, the best way to protect your rights is to contact a Zeller Law Chicago breach of contract attorney. Depending on the facts of your case, one of our Chicago business lawyers may be able to help you seek money damages or specific performance of a contract term. In some cases, you may also be able to recover reasonable costs and attorney's fees associated with a breach of contract lawsuit.
Although it is impossible to provide a comprehensive list of business and commercial contracts, some of the most common types of breach of contract claims involve:
» Asset Purchase Agreements
» Shareholder Agreements
» Partnership Agreements
» Vendor Agreements
» Promissory Notes
» Joint Venture Agreements
» Trademark License Agreements
» Patent License Agreements
» Noncompete Agreements
» Confidentiality Agreements
» Employment Agreements
» Independent Contractor agreements
» Commercial Lease Agreements
» Supply Contracts
» Manufacturing Contracts
» Reseller Agreements
Contact our Chicago business litigation lawyers regarding your breach of contract case. Please feel free to email or call our Chicago law office to inquire about your potential breach of contract case.