Are you the victim of a breach of contract? Mitigating your losses in a breach of contract is a critical required component to protect your rights of recovery in any breach of contract dispute. The party who has not caused the breach is required under California law to take prompt, reasonable and prudent action to reduce the impact of the breach of contract on their business and to minimize as much as possible the losses or damages that result from the breach.
Mitigating your losses in a breach of contract preserves all of your rights as you pursue resolution of the challenges at hand. It also allows you to recover the maximum amount of damages from the breaching party if the situation fails to resolve.
Damages are simply the documentable financial losses that you or your company have incurred as a result of the breach of contract. Many experienced business professionals are not aware that they are required by law to take action to reduce the financial impact of the breach. Mitigating your losses in a breach of contract is often the last thing on the mind of a business owner who has been disappointed by a contract partner. However, this important step is the key to ensuring the maximum recovery in any breach of contract mediation, arbitration or business litigation.
The proven contract attorneys at the Watkins Firm have decades of experience in these disputes and provide timely guidance to our clients to help them to protect their position, while ensuring that they have taken documented actions and steps to reduce associated damages. If you are the victim of a breach of contract in San Diego and are concerned about the situation and the steps you should take we invite you to review the strong recommendations of our clients and contact the Watkins Firm or call 858-535-1511 for a complimentary consultation today.