Like all relationships, relations between business partners can become strained, at times to the point of breaking. Disputes among business partners can and do arise for a variety of reasons, from lack of communication to outright fraud. Typical claims that are raised in partnership disputes include actions for accounting, breach of contract, negligence, fraud, and […]
Can a defendant be insured for contract breaches?
Insurance policies do not provide any coverage (either defense or indemnity) for contract breaches. Rather, most liability insurance policies provide coverage for personal injury and/or property damage claims. Some insurance policies provide coverage for “professional negligence” and/or “errors and omissions.” Depending upon the circumstances of the case, the insurance policy involved, and the allegations of […]
Mitigation of damages in a breach of contract case
When a breach of contract occurs, the party not in breach is required to mitigate (i.e., to minimize) his or her damages by whatever means are reasonably available. A failure to mitigate damages will result in a loss of the right to recover the amount that should have been mitigated. Let’s say, for example, a […]
Remedies for breach of contract: legal, equitable, injunction and rescission
A “remedy” is the relief a Court may grant upon finding that a wrong has been committed. Remedies for breach of contract fall into two main classifications: “legal” remedies (i.e., the right to be awarded monetary damages) and“equitable” remedies (i.e., the right to some relief from the Court other than damages). Legal remedies With regard to […]
The Art and Science of Litigation:/Common Challenges
Clients involved in contested matters come to attorneys for guidance regarding the litigation process. Oftentimes, clients on opposite sides of a dispute believe 100% in the justice of their cause, yet, in the usual case only one of the sides will prevails in the litigation. Contract litigation attorneys are schooled in the art of risk […]
