Commercial Law

Commercial law is a legal field that deals with business and commercial transactions. It encompasses a wide range of legal topics, including contract law, intellectual property law, employment law, banking and finance law, and consumer protection law, among others.

Breach of contract is a common issue in commercial law. A breach of contract occurs when one party fails to perform their obligations under the terms of a legally binding agreement. When a breach of contract occurs, the non-breaching party may have the right to take legal action. This can include seeking damages for any losses suffered as a result of the breach, enforcing the terms of the contract, or terminating the contract altogether. However, the specific legal remedies available to the non-breaching party will depend on the nature of the breach and the terms of the contract.

To be actionable, a breach of contract must rise to the level of a material breach, which occurs when one party fails to perform a significant obligation under the terms of the contract. This can include failing to deliver goods or services as promised, or failing to pay an agreed-upon amount of money. Material breaches can give rise to legal action, such as a lawsuit to recover damages or terminate the contract.

A breach of contract may amount to a partial breach. This occurs when one party fails to perform a minor obligation under the terms of the contract. While a partial breach may not give rise to a lawsuit on its own, it can be grounds for the non-breaching party to seek damages or other legal remedies if the breach causes them to suffer a loss.

Anticipatory breach is another type of breach of contract. This occurs when one party indicates that they will not perform their obligations under the contract before the actual breach occurs. For example, if a party informs the other party that they will not be able to deliver goods on time, this can be considered an anticipatory breach. The non-breaching party may have the right to terminate the contract or take legal action if this occurs.

There are numerous legal defenses that can be raised in a breach of contract action. For example, a party may argue that the contract was illegal or unenforceable, or that they were coerced into signing the contract. Other common defenses include claiming that the other party breached the contract first, or that they were prevented from performing their obligations under the contract due to unforeseeable circumstances, such as a natural disaster.

Breach of contract actions are a common legal issue in commercial law. When a breach of contract occurs, the non-breaching party may have several legal remedies available to them, including seeking damages or terminating the contract. It is crucial for businesses to understand their rights and obligations under commercial law, and to take legal action when necessary to protect their interests. Rashkin Law is an experienced commercial litigation team taking commercial legal matters from pre-suit through trial, judgment, and collections.