Business Lawyers Handling Contract Disputes in Annapolis, MD
Evans Law represents clients throughout Maryland in contract disputes involving business transactions, employment contracts, real estate agreements, and more.
Due to the high risks associated with conducting business and real estate transactions, contracts are utilized on a daily basis by businesses and individuals alike. There are many situations, however, in which a dispute regarding the terms of a contract will arise. When it comes to contract disputes, we are willing to negotiate settlement terms amenable to all, but we prepare each case for litigation, as our primary goal is to protect and assert our clients’ interests.
Sometimes, contract disputes involve the interpretation of certain contract terms. Other times, one party does not uphold or carry out obligations and responsibilities laid out in the contract. In some cases, additional contracts are used to ensure the terms of an agreement, which may also affect the interpretation of a contract.
In Maryland, not all contracts have to be in writing to be considered valid and binding. Understandably, with verbal contracts, it can be much more difficult to prove an agreement is enforceable—or not enforceable—than with a written contract. It may also be hard to determine if and when a breach occurred. Our attorneys possess the skill and experience to achieve our clients’ goals in both written and verbal contract disputes.
Our attorneys leverage our clients’ cases by focusing on quantifiable harm suffered as a result of a breach of contract. This means we consult economists and other experts when determining damages, detailing losses suffered by a business or individual due to non-performance of service contracts, employee agreements, rental agreements, and general business contracts.
What Are the Damages for Breach of a Real Estate Sales Contract?
In real estate laws, there are multiple remedies for a breach of contract. A breach can occur on either side of the agreement, and any deviation from the terms of the contract is considered a breach. However, your options depend largely on the type of breach and its severity. For example, if you have to push back closing a few days because of the other party’s failure to plan, you may be entitled to some compensation. However, you aren’t going to get back 25% of the purchase price of the property.
Monetary compensation is not the only option for a breach of contract. Both parties may simply agree to terminate the contract and return any funds that were already exchanged. The party in breach of the contract may also be forced to perform within the terms of the agreement. This may be the solution if, for example, a seller tries to cancel a contract because they realize they can get a better offer on their home. The court may force them to carry out the agreement and give the house to the buyers as outlined in the contract.
The wronged party may be entitled to general damages, which are intended to make the plaintiff whole. When executed properly, general damages put you in the position you would have been in if the contract had been fulfilled. Special damages are the actual financial losses you experienced because of a breach of contract.
The damages you recover depend on the specifics of your claim. Consider, for example, that you’ve purchased a home and intend to move into it on closing day. The seller backs out and tries to refuse to sell to you.
You could go to court to try to force them to sell the house as agreed upon in your contract. On top of that, you could ask for damages for the time spent waiting for the home to be made available to you. That might include storage fees for your items, the cost of living in a hotel while waiting for your home, and compensation for the attorney fees you racked up trying to be made whole.
If you sell an investment property and the buyer backs out, there may be several types of damages you can pursue. Since you may have emptied the home in preparation for the buyers, you could ask for compensation for the money you would have earned from renters had you known the buyer wouldn’t follow through. You could also ask for compensation for the inconvenience of relisting the home, finding renters, and attorney’s fees.
Protect Your Rights with the Help of Experienced Maryland Contracts Attorneys
When the terms of a contract are breached, knowingly or not, the fallout can be devastating. If a problem is ignored or not handled properly, businesses and individuals can suffer not only financial losses, but also reputational damage that can potentially frustrate future transactions. Our attorneys are dedicated to utilizing every tool necessary to bring about the desired outcome in any contract dispute. For more information about our representation, please contact Evans Law to schedule a consultation.