Leading Financial and Family Law Attorneys
Are you dealing with a contract dispute?
Contract law is essential to the modern business world. When a contract is breached, the ensuing dispute can be destructive to profits as well as business relationships. If you’re dealing with a breach of contract, there’s a good chance much is riding on your next actions. Many contract disputes can be resolved through mediation, but oftentimes these disputes end in a courtroom. Whether or not your contract dispute ends in litigation, having an experienced contract law specialist on your side is an invaluable asset.
What’s next when a breach of contract has occurred? Which recourse is best for you will depend on the type of contract breach you’re dealing with. The two main types of contract breach are:
- Material Breach of Contract
- Non-Material Breach of Contract
Material Breach of Contract
Sometimes referred to as a “total breach”, this type of contract breach undermines the very foundation of the contract. If a material breach has occurred, the non-breaching party can end the agreement and collect damages through litigation. The courts will consider several questions when deciding whether or not a breach of contract was material:
- Is the non-breaching party deprived of the core of what it originally wanted?
- Can the non-breaching party be easily compensated?
- Will the breaching party be forced to forfeit a great deal?
- Is the non-breaching party ready to perform their end of the contract?
- Did the breaching party act maliciously?
If you’ve entered into a contract that has been materially breached, litigation is likely. It is essential to have an experienced attorney on your side from the start if you believe a material breach of contract has occurred.
Non-Material Breach of Contract
Whether you’re dealing with a material or non-material breach of contract, we can help you resolve your contract dispute. We have decades of experience in both mediation and litigation, and can help you resolve your contract dispute in a fair and efficient manner.
Contact New Mexico Financial and Family Law Today to Schedule an Initial Consultation!