For there to be a legally binding contract, there must be an offer and consideration. There must be a mutual meeting of the minds. The terms, conditions, and expectations of both parties must be made clear. However, sometimes even in the best of circumstances, expectations are not met and a breach of contract occurs.
Fortunately, the law offers a variety of remedies when there has been a breach of contract.
One type of remedy is what is called compensatory damages. The court may award monetary damages in the amount that allows one to get services that were promised elsewhere.
A court may also order restitution. If they do, then the plaintiff may receive a monetary amount to effectively return them to their original state before the breach occurred.
Punitive or exemplary damages may also be awarded in cases in which the court believes the breach violated the common standards of moral turpitude and was thus a deliberate and knowing act of harm.
In some cases, only a nominal amount may be awarded by a court in circumstances in which no harm was suffered by the aggrieved party.
Some contracts have clauses that allow for liquidated damages, which is the amount both parties agreed to in the event of a breach.
Sometimes courts may order injunctive relief or remedies in equity. A judge may order for the contract to be canceled and thus for neither party to be bound by it anymore in such instances.
The court may order the defendant to provide specific performance. This may lead a defendant to have to deliver the goods or services originally agreed upon. This often happens when a company has unique offerings.
Navigating through a contract can be quite daunting. You may find it helpful to have a business law attorney here in Dayton review your contract. Having your Ohio attorney do this will minimize the chances of problems down the road.