Specific Performance as a Remedy for Breach of Contract in Illinois
Entering into various different contracts with a multitude of parties is an essential part of doing business. Because contracts obligate involved parties to adhere to the stipulations of the contract, contract breaches are incredibly common. At the law offices of Johnston Tomei Lenczycki & Goldberg LLC, our business dispute and breach of contract attorneys can help you to understand the various remedies available in a breach of contract case, including specific performance.
What Is Specific Performance as a Remedy for Breach of Contract?
There are a variety of different remedies available in a breach of contract case, including an award of monetary damages, restitution, rescission, reformation, and specific performance. Specific performance is often used in conjunction with one of the other remedies listed above, and refers to an agreement as a remedy in which the breaching party is ordered by a court (or agrees to via an out-of-court settlement) to perform a specific action. Typically, the specific performance ordered is the fulfillment of the duties that were specified in the original contract.
When Is Specific Performance Used as a Remedy?
Specific performance is not always used as a remedy in a breach of contract case; instead, specific performance will be used when:
Whether or not specific performance is ordered as a remedy is primarily up to the discretion of the court. Further note that specific performance as a remedy in a breach of contract case is typically used when the goods or services that are named in the original contract are unique, and therefore mere monetary compensation is not sufficient. One of a kind items can include original artwork and real estate, such as homes and condominiums.
Navigating Your Breach of Contract Case
While breach of contract cases may be relatively common in the business world, they are not simple to navigate. What’s more, the consequences of a breach of contract case could be serious for your business, resulting in lost profits, opportunities, customers, and more. If you believe that another party has breached a contract with your company–or if you are being accused of breach of contract–it’s important that you retain an experienced lawyer who understands the various remedies available in a breach of contract claim.
Contact Our Experienced Breach of Contract Lawyers
While specific performance may be a potential way to settle your breach of contract case, it is by no means the only option. When you consult with our experienced breach of contract attorneys at the law offices of Johnston Tomei Lenczycki & Goldberg LLC, we can guide you through the various remedies available. We prioritize cost-effective solutions, beginning with out-of-court negotiations, and always take all steps possible to avoid litigation to save your business money and retain your privacy.
To learn more about working with our experienced breach of contract lawyers, please call us today or reach us online at your convenience.
Phone Number: (847) 549-0600
Fax Number: (847) 589-2263
350 N. Milwaukee Ave., Ste. 202
Libertyville, IL 60048
223 N. IL. Rt. 21, Ste. 14
Gurnee, Illinois 60031