Remedies for a Florida Breach of Contract
When two parties enter into a contract, the expectation is that both sides will fulfill their obligations. Unfortunately, this is not always the case. When one side fails to live up to their end of the bargain, a breach of contract may occur. In a breach of contract claim, Florida law allows for various remedies to compensate the wronged party.
One remedy for a breach of contract in Florida is rescission of the contract. A rescission of the contract will undo the contract and may relieve the parties of their obligations under the contract. Rescission can be unilateral by one party if the other commits a material breach of contract or mutually between both parties. A court can also order a rescission of a contract if it is in the public interest.
Damages are another remedy for a breach of contract in Florida. However, it is important to note that when awarding monetary damages, the aggrieved party must mitigate damages as much as possible.
General damages compensate the injured party in the contract for all direct losses that result from the breach. The most common example of general damages is the cost of the lost goods, services, or payment that the aggrieved party was supposed to receive if the contract had been fulfilled.
Special damages compensate the wronged party in a breach of contract claim for all other losses that may flow from the breach but are not direct losses. For example, profit losses or increased cost of replacement goods can all count as special damages.
In cases of fraud and other egregious conduct in a breach of conduct claim, punitive damages may also be awarded. Punitive damages are meant to punish the wrongdoer and serve as a deterrent to others who may consider similar actions.
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If you believe that a breach of contract has occurred or if you are accused of committing a breach, the knowledgeable contract law attorneys at The Soto Law Office are here to provide you with top notch legal representation. The Soto Law Office and our team of experienced contract law attorneys is here to help. Call or contact the office today to learn more about Florida breach of contract remedies.