It should come as no surprise to North Carolina business owners that in a breach of contract dispute, a party can recover funds which are due and owing to the company under the contract. There are, however, some additional damages which a party can recover in a contract lawsuit. If you have a breach of contract business litigation dispute, contact an attorney at Maginnis Law, PLLC at 919.526.0450 to discuss your potential recover from the breach.
The general rule in North Carolina with regard to obtaining damages for a breach of contract is that the plaintiff is placed in the position that they would have attained if the defendant had not breached the contract. The plaintiff is “made whole.” These damages can potentially include lost profits, expenses incurred in performing under the contract, and any other consequential damages that were a foreseeable consequence of the breach of contract. Consequential damages are economic harms resulting from the breach of contract which were within the contemplation of the parties when the contract was formed. Parties can also include additional types of damages in the contract such as penalty clauses, attorney fees or other liquidated damages remedies. However, a business typically cannot recover punitive damages, personal injury damages, or emotional damages in a contract dispute.
If you or your company has a contract which has been breached, contact the trial lawyers at Maginnis Law, PLLC to discuss what damages would apply to make the company whole after the breach of contract. Maginnis Law, PLLC is a Raleigh civil litigation firm handling matters in Cary, Apex, Morrisville, Holly Springs, Durham and the rest of the Triangle area. Contact the firm at 919.526.0450 or submit a confidential new case inquiry here.