Many of the business relationships you enter into provide your company with items and services required in order for you to run your business. For this reason, you enter into contracts with suppliers, vendors and others to help ensure that you receive the materials and services you need.
When another party fails to live up to the terms of a contract you entered into, you may pursue financial damages as part of any dispute resolution, including litigation, but that may not be the only avenue of recovery you need.
Perhaps you tried everything else
When the other party fails to fulfill its part of a contract, you more than likely don’t go to litigation right away. You may attempt to resolve the situation amicably first. When that doesn’t work, you may send a demand letter or even participate in mediation in order to resolve the situation.
However, there are times when these efforts are not enough to provide you with a remedy. At this point, you may realize that filing a lawsuit may be your best option. If that is the case, you will not only need to gather the relevant evidence of the other party’s breach of the contract but also determine what remedies you need from the court.
You will more than likely seek monetary damages for any financial losses you incur because the other party failed to follow through with the terms of the contract, but you may need other remedies as well that have nothing to do with asking for money.
Perhaps you just need the other party to follow through
Financial recompense remains an important component of any lawsuit, but it may not adequately resolve the situation. You may simply need the other party to fulfill its part of your contractual bargain. In this case, you may ask the court for a non-monetary remedy called “specific performance.”
Specific performance requires the offending party to provide the goods or services promised in the contract. This remedy is most often utilized when the terms of the contract are unique, and you need the goods or services more than you need a monetary award.
As part of specific performance, the court may order a replevin requiring the other party to deliver the goods promised to you in the contract. Again, a replevin comes into play when money damages would not rectify the situation for you. Once you have a court order in hand, you may receive the goods or services promised to you by the other party, which is a big step in getting your business back on track.