By Ronnie Farhat, Esq.
In a perfect world, all contracts we enter into would go accordingly to plan. Unfortunately, the world isn't perfect and breaches happen. Whether you are dealing with a contract issue as an individual or as a business, it is important to have a basic understanding of what tends to happen when a contract is breached and what the potential remedies might be for you and your business in such a circumstance. As an Illinois contract lawyer, I will share the basics of breaches of contracts.
What is a breach of contract?
A breach of contract occurs when a party to a contract fails to perform one of their contractual obligations or a provision of the contract itself is otherwise violated. Breaches come in many different types; they can occur intentionally or unintentionally, be minor or major (i.e. material), actual or anticipatory.
*Before going any further, it is important to note that every contract is different. If you believe you or another party to a contract you entered into may have violated its terms, you should find a contract review attorney as quickly as possible to determine what your next steps should be.
What type of breach are we dealing with?
When a lawyer is confronted with a potential breach of contract issue from a client, the first thing they will want to do is review the contract in its entirety to become familiar with its terms. After a ...
In a perfect world, all contracts we enter into would go accordingly to plan. Unfortunately, the world isn't perfect and breaches happen. Whether you are dealing with a contract issue as an individual or as a business, it is important to have a basic understanding of what tends to happen when a contract is breached and what the potential remedies might be for you and your business in such a circumstance. As an Illinois contract lawyer, I will share the basics of breaches of contracts.
What is a breach of contract?
A breach of contract occurs when a party to a contract fails to perform one of their contractual obligations or a provision of the contract itself is otherwise violated. Breaches come in many different types; they can occur intentionally or unintentionally, be minor or major (i.e. material), actual or anticipatory.
*Before going any further, it is important to note that every contract is different. If you believe you or another party to a contract you entered into may have violated its terms, you should find a contract review attorney as quickly as possible to determine what your next steps should be.
What type of breach are we dealing with?
When a lawyer is confronted with a potential breach of contract issue from a client, the first thing they will want to do is review the contract in its entirety to become familiar with its terms. After a ...