Contract disputes are one of the most frequent business disputes our Charleston business lawyer deals with. When business contract disputes or individual contract disputes occur between two or more parties, there are multiple legal issues that need to be considered before starting any business litigation. The facts that surround all contract disputes must be carefully analyzed and considered, such as the amount in controversy, the type of business client, the type of contract dispute, was a written or oral contract involved, and the benefit or detriment in potentially pursuing business litigation. For example, have the parties objectively manifested an intent to enter into the business contract? Is the business contract in writing? Does the business agreement properly reflect the intent of the parties? Is the subject matter of the business contract sufficiently definite for the contract to be enforceable? Was the breach of contract material to the business transaction at hand? Has the moving party to the business contract considered all of the other parties affirmative defenses?
Equitable Remedies Available in Business Contract Disputes
There are several remedies that are available in a breach of contract claim. The specific remedy available will depend on the specific facts of the case. Aside from seeking monetary damages (a monetary damages judgment is the most common judicial remedy for a breach of contract action – as a general rule, in breach of contract cases, the goal in awarding a remedy is to put the nonbreaching party in as good a position as if the business contract had been performed), a party pursuing a remedy to the breach of contract may consider seeking specific performance, an injunction, or recission and restitution. Many issues arise in determining the proper remedy for breach of contract and what the scope of that particular remedy may include. There are numerous types of legal remedies in breach of contract actions that may be available which should be discussed with a business lawyer.