Many Maryland businessmen enforce strict guidelines within their contracts to ensure that their partners do not attempt any suspicious activity that could lead to company loss. If there are any breaches within that contract, you have the right to file a lawsuit with a contract lawyer Frederick, MD trusts against them in court to obtain compensation for any damages they caused.
Contract breaches often result in hefty financial losses, but guilty workers are not off the hook yet even if the court finds that no major losses occurred from the violation. Contractual negligence that does not result in harm to either party is known as nominal damage. Many question why some businessmen go through the trouble for this conviction if there appears to be little to gain, but there are several perks you can get out of the process.
Enforcing your agreement
Even if the payment in nominal damages might be small, it does prove that you were right to file a lawsuit against your partner to begin with. Getting a taste of legal action can help serve as a wake-up call for the other party to avoid any more contract breaches in the near future, as they are now exposed to the possibility of injunctive relief and other non-monetary remedies.
With how little is often won in nominal damage cases, some worry about how attorney fees and court costs can overpower the final compensation. However, most cases often end with the losing party covering these expenses. It’s an additional bonus alongside the vindication that you were correct about their violation.
If nominal damages are a strong possibility in a case, then the plaintiff can also seek punitive damages against the defendant. This is money that the defendant must pay as punishment for doing something morally reprehensible. Even if you did not receive any major harm from their breach, the court might still find their actions highly disgraceful and can charge them a large amount for the crime. For example, if the other party were to intentionally sell something dangerous or lacking in quality, they could be liable for punitive damages.
No matter how much damage the breach inflicts upon you or your company, you have the right to take the guilty party to court and have them pay for their actions. If you require any assistance on knowing what type of harm your partner inflicted upon your agreement, it is important to contact a lawyer for business litigation Frederick, MD needs that specializes in contractual transactions to steer you in the right direction.