Articles Tagged with Contract law

Published on:

handshakeAfter businesses enter into a contract, those entities have certain responsibilities to one another until such a time that the contract has been completed. If one of the parties materially breaches the contract and the other party is harmed by that breach, then the other party is entitled to damages. But how do we measure those damages, i.e., how does the law provide an injured party damages in a contract case?
Plaintiffs in breach of contracts cases can seek several types of damages. These types of damages can be distinguished according to the function that each serves. In general, the types of available damages fall into three categories, known as “benefit of the bargain” (or “expectancy”), “reliance,” and “restitution” damages. It is sometimes said that expectancy damages are the “normal measure” of damages. What this  means is that benefit-of-the-bargain damages is the most commonly sought measure or type of damages. It is does not imply that it is superior to the other measures of damages.
Benefit of the Bargain Damages: A party wishing to be placed in the same economic position that it would have occupied had the contract not been breached will seek expectancy damages as a result. Expectancy damages are tied to the expected benefit the non-breaching party was to receive had the breaching party not breached the contract.
Published on:

civil-litigation-picture-300x214Guest and Gray, P.C. has helped countless individuals and businesses in the Forney, Kaufman and Rockwall area over the years. Our attorneys are trusted, local and proven. Our areas of civil practice involve personal injury, contract litigation, real estate, partnership and business disputes, and construction litigation. Our attorneys have the knowledge and practical experience to help guide you through the legal processes from start to finish, including asserting your rights at trial.

Real Estate Litigation

Kaufman and Rockwall counties are seeing unprecedented growth. New home start ups are at record highs. This means that lots of people are entering into real estate contracts. So, it is important to know the rights and duties each party to the transaction has, and what the ramifications for failing to abide by the contract are in a Texas real estate transaction.