In the course of your business, you, and other business owners throughout Texas, likely enter into all types of contracts. These may be with workers, equipment or service providers, customers and others. Should a business or person you are working with breach a contract you have entered into together, you may consider taking legal action. For obvious reasons, however, you may not want to resume doing business with a person or business following this type of violation. Aside from having them satisfy their contractual obligations, there are other types of remedies that you may pursue, including monetary damages.
Monetary damages are one of the most common resolutions for contract disputes. These may include funds to compensate your losses, to compensate your foreseeable losses or to compensate for the time it will take to repair damages resulting from the breach. Under Texas state law, you may also be able to obtain attorney’s fees, in addition to other damages, in breach of contract claims. In general, the amount that you may recover depends on a number of factors, including whether the contract was totally or partially breached, any stipulations the contract may contain regarding breaches, the type of contract and what damages you suffered as a result of the breach.
This post has provided a general overview of monetary damages in breach of contract claims. You should keep in mind, however, that not all situations are the same. As such, the amount of damages you may recover depends on your specific circumstances. Therefore, this post should only be taken as general information, and not be considered legal advice.