Why should you be concerned about the responsibility to mitigate the damages in a breach of contract case if you are the victim of a broken contractual agreement? Why is it important to seek the advice and counsel of the experienced breach of contract attorneys at the Watkins Firm if you have been the victim of a breach of contract?
The Victim of the Breach Must Mitigate the Damages in a Breach of Contract Case
The business or victim of the breach must mitigate the damages in a breach of contract case in San Diego and throughout Southern California. Many experienced business people do not understand the responsibility to mitigate damages, or the ramifications of the failure to take action to reduce or eliminate losses. San Diego businesses are able to recover for the financial losses or “damages” associated with a breach of contract. However, the law requires them to take prompt, prudent and substantial steps to mitigate the impact of the breach upon their own business.
What Actions Should You Take if You are the Victim of a Breach of Contract?
What actions should you take if you are the victim of a breach of contract? California and federal law requires the victim of a breach to do everything possible to reduce the financial and business impact of the other party’s failure to fulfill the terms of a contractual agreement. This may require them to make arrangements with downstream consumers or customers who were affected by the breach. It may also be necessary to find alternative sources who can provide the “benefit of the bargain” anticipated in the original contract prior to the breach.
There are several internal and external steps which can and must be taken in a timely, prudent and substantive manner to reduce the impact of the breach in order to preserve the ability to recover associated damages down the road.
Experienced San Diego Breach of Contract Attorney
Your experienced breach of contract attorney at the Watkins Firm can provide insight and counsel at every step of this process, and help to protect your legal and financial interests in breach of contract cases.
We take a unique approach to resolving disputes associated with a breach of contract that is specifically designed to resolve them quickly and in a cost-effective. Part of the responsibility to mitigate the damages in a breach of contract case in San Diego and Southern California is to reach out to the other contract party and negotiate a “settlement” or amended terms that allow them to perform on the original agreement. They are of course responsible for the additional costs you’ve been forced to bear for the breach, but this strategy can preserve an important business relationship while resolving critical business issues like a breach of contract quickly and cost-efficiently.
If you are the victim of a breach of contract in San Diego review the strong recommendations of our clients and contact our experienced business litigation team at the Watkins Firm or call 858-535-1511 for a complimentary consultation today.