NYC Contract Lawyers Helping You Collect Money for Contract Breaches

A contract is an agreement between two or more people that creates an obligation(s) to do or not to do something. When one person breaches a contract, the law gives the other person a remedy to compensate him or her for the losses he or she incurred from the breach. For example, if a buyer of a house makes a down payment in the amount of $50,000 and later refuses to buy the house, the seller of the house may be entitled to keep the entire down payment, or some portion of it, to recover the losses he or she sustained by being unable to sell the house to the buyer at that time.

In contrast, there may be a property owner who enters into a contract for the sale of his or her home and accepts a down payment from the buyer, but refuses to sell the house to the buyer. In such case, the property owner may face a lawsuit for specific performance that obligates him to sell the house for the agreed on contract price.

These are examples 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, and other assets can be at stake. If you find yourself facing breach of contract issues, we encourage you to call us so we can begin helping you recover immediately.