Skilled Contract Lawyers Defending Your Assets
A contract is an agreement between two or more people that creates an obligations to do, or not to do, particular things. When one person breaches a contract the law gives the other person a remedy to compensate him or her for the losses that he or she incurred from the breach of the contract by the breaching party. For instance, a buyer of a house made a down payment for the house in the amount of $50,000 and then refused to buy the house. The seller of the house might be entitled to keep said fifty thousand dollars, or maybe a portion of said amount, in order to recover the losses that he or she sustained by not selling the house to other people during that time, who wanted to buy said house, but did not, because the house was in contract with a breached buyer.
In contrast, there may be a property owner who enters into a contract for the sale of a house and gets a down payment but refuses to sell his/her house to the buyer. In this case, the owner may face a lawsuit for specific performance that obligates him to sell the house according to the contract price. This is an example of a common breach of contract issue that Gorodetsky Law Group often faces. If a breach of a contract occurs and nothing is done then large sums of money, property, or other provisions can be at stake. If you find yourself facing such an issue, or any type of breach of contract, don’t hesitate to call us.