Considered legal consultation is recommended when agreeing a contract. The importance of this is to evaluate the terms and conditions and advise the party to ensure it is fit for purpose. A key obligation of legal advice is to make it clear what potential problems a breach may cause.
A breach of contract occurs when one or more parties fails to meet obligations outlined in the contract terms and conditions, sometimes known as small print.
If the breach is minor it may be possible to remedy the problem without court action, however litigation may be the best option particularly if losses are significant, or perhaps the wronged party just feel that is the route they want to take.
At a successful conclusion damages will be awarded even if there is no actual loss but in these cases damages awarded will inevitably be low.
When a breach of contract is significant the ‘injured party’ may be immediately discharged from its obligations under the contract and leave the way open to make a claim for damages. Although in some cases the damages may not be recoverable.
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