Breach of Contract:
If commercial contracts are not terminated lawfully and contractual obligation not fulfilled pursuant to the terms of the agreement, the defaulting party may be faced with the threat of legal proceedings for being in breach of contracts. The party entitled to have received the benefit under the contract, but now lost due to the breach of contract, is entitled to sue for damages, which aims to seek a monetary reward putting the compliant party in a position had the contract been lawfully fulfilled.
It is expected that companies will also serve Statutory Demands on parties that have not paid under a contract. If you receive a Statutory Demand or intend to issue one, the details of the contractual relationship should be carefully considered, otherwise the demand could be opposed.
Businesses may have sold or received goods or services making claims that were either fraudulent or a misrepresentation which has led to financial losses being suffered. Please contact one of our specialist solicitors to start assessing your risk profile or claim potential.
Our article Protecting your business during COVID-19 will provide further insight.
These notes have been prepared for the purpose of an article only. They should not be regarded as a substitute for taking legal advice