What damages is my small business due after a vendor breached the contract?

A:

If the breach of contract caused your company damages and losses, then your business may be due damages. However, the type and amount of damages that your company may be due when a contract is breached could depend on various factors. The business aspects that are taken into account include which damages were a result of the breach, what the contract states with regard to damages, what the subject matter of the contract was, and whether the breach was material.

If your small business was harmed by a vendor’s breach of contract, then you may be able to pursue damages through different legal avenues including: mediation, arbitration, or litigation. The damages that your company could be awarded generally are only foreseeable damages that resulted from the time into which the contract was entered.

The amount of damages due to a party from a contract breach can include:

• Actual damages
• Profit forecast
• Interests
• Attorney fees
• Other damages

For help determining what your company may be due for a breach of contract, call the Austin contract attorneys at the Posey Law Firm. Additionally, our business attorneys can review your contracts to ensure your Texas small business contracts are thorough and will protect your company from any other legal matters that could arise. We are skilled in drafting and negotiating contracts, and may be able to help you protect your business. Call us today toll-free at 888.269.1962 or locally at 512-646-0828.

Jake Posey [email protected]

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