There is a lot of hard work that goes into making a Miami business successful. The right strategy has to be put in place and executed to turn a profit, and a significant part of that strategy often involves partnerships with other individuals and businesses.
Unfortunately, this reliance on others can go wrong when these third parties fail to live up to their end of the deal. For instance, while the business may enter into an important contract with a key business partner, the other side may breach its contractual duties and fail to perform.
This breach of contract can pose substantial challenges for the business. To begin with, the business is not receiving the product or service it contracted to receive. In other cases, the business may have provided these products or services to others, but the other entity failed to make payment. Beyond the initial breach of the contract, other consequences can result. For instance, if the business has not received the product or service it contracted for, this means it still must obtain this product or service from another entity. Frequently, when the business goes to contract with another party as a result of the breach by the original party to the contract, the deal is not nearly as favorable as the original contract. Prices may have increased, for example, which can place the business at a serious disadvantage.
Recently, this blog has discussed how Florida law enables businesses to obtain damages when another party has breached a contract. The goal of contract damages in typically to make the party whole and put the party in the position it would have occupied had the contract been performed. Beyond that, there may be other kinds of damages available as well, like lost profits or damages when part of the business is lost.
Our firm has significant experience in dealing with all kinds of business disputes. We understand how important it is for our clients to be made whole after another party has breached a contract, and we advocate vigorously for our clients to obtain all damages they are entitled to under the law. For more information on our firm’s services, please visit our webpage on contract litigation.