What Damages Can I Sue For In A Breach Of Contract Lawsuit?

Breach of contract lawsuits occur frequently between business partners, businesses and other businesses, and businesses and individuals. When a contract is breached, the breaching party may be liable for damages related to the breach.

To prove a valid breach of contract claim, you need to establish the following elements:

• You and the breaching party entered into a valid contract. This means that the contract was lawfully entered and enforceable. The contract must meet the requirements of the Ohio statute of frauds.
• The other party failed to meet their obligations under the contract. You need to establish that the breach was material and spoke to the heart of the agreement.
• The plaintiff must have followed through on their contractual obligations or were ready to if the breach had not occurred.
• The plaintiff suffered damages as a result of the breach.
• The plaintiff brought the case within the applicable statute of limitations. For most contracts, Ohio law requires that you bring the claim within 6 years.

What damages can I sue for in a breach of contract dispute? 

Damages are injuries you suffered as a result of the breach. You can sue over these injuries in a breach of contract dispute. The loss of money is considered an injury. There are several types of damages available in a breach of contract dispute. These include:

• Compensatory damages – Ohio law allows parties to recover damages for compensation related to the losses they incurred because of the breach. There are two types of compensatory damages, expectation and reliance damages. Expectation damages are the loss of benefit you expected to receive had the contract been fulfilled. Reliance damages are those incurred when you relied on the other party to follow through with their agreement under the contract. The goal of reliance damages is to put you in the position you would have been in had you never entered the agreement.

• Liquidated damages – The parties agree on a specific amount of damages the non-breaching party will receive if the contract isn’t fulfilled. For example, if a buyer submits a deposit for a house, the buyer may receive money back if the seller backs out of the deal. If the buyer backs out of the deal, the seller may be able to keep the deposit.

• Consequential damages – These damages arise from the breach but aren’t necessarily direct consequences. For example, if a contractor fails to complete a project after it’s paid for, they may be liable for the amount of money it took to have someone else complete the project.

• Specific performance – In some cases, a financial award may be insufficient. In these cases, the court may compel the breaching party to perform on the contract as the only equitable remedy. This is extremely uncommon.

Talk to a Columbus, OH Breach of Contract Lawyer Today 

Kohl & Cook Law Firm, LLC represents the interests of parties who are in contract disputes. Call our Columbus consumer lawyers today to schedule an appointment, and we can begin discussing your next moves right away.