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Our team of attorneys handle business litigation needs across Tennessee, including in Memphis, Jackson, Nashville and beyond. We handle commercial litigation cases for businesses both large and small on a variety of topics.
A contract is a solemn affirmation between two parties outlining each other’s obligations. When one fails to perform his duty according to the mutually set terms, the other party claims breach of contract and is at liberty to seek legal recourse. A material breach allows claimant to push for substantial damage claim.
What is Material Breach of Contract
Material breach strikes the very heart of the contract as terms of the agreement are violated negating its expected outcome. It entails a total breach as the contract is irreparably broken defeating the very purpose it was agreed for. Any Tennessee breach of contract attorney is ready to fight for his client seeking legal recourse for material violation, as it provides substantial evidence to prove significant failure of the non-performing party.
In our opinion, not just any violation constitutes material breach of contract. There must be contravention substantial enough to destroy the purpose of the contract. A breach of contract whether material or not is decided based on the following five circumstances:
- the extent to which the injured party suffered loss of the benefits expected
- the extent to which the responsibility of the non-performing party is not carried out
- the extent to which the aggrieved party can be compensated or allowed to seek remedies
- the extent to which the non-performing party failed to provide any reasonable assurance on its obligations
- the extent to which the non-performing party violated the principles of fair dealing and good faith
When there is a material breach of contract, courts may welcome for the jury (or judge) expert legal opinion on the contract, it execution potential, and disputes to see how substantial is the breach and its impact on the very spirit of the agreement.
Remedies Available for Material Breach of Contract
The aggrieved party may be forced to lose the very benefits for which it sought the contract after being deprived of all that it negotiated for when a material violation happens. Tennessee law on breach of contract allows civil action against the non-performing party with option for several remedies. These corrective steps not only punish the non-performing party, but also provide the aggrieved party a range of options to reverse his loss of benefits. Tennessee law on breach of contract offers various types of economic and non economic remedies for material violations, such as
- contract cancellation and payment recovery
- financial and punitive damages for losses suffered
- curative action for breach of contract
- restoration of contract asking the non-performing party to abide by terms
- insertion of minor changes into the contract to enable non-performing party to abide by terms
Compensation To Be Claimed
The petitioners may be able to seek a variety of economic damages with or without non-economic measures for material breach of contract in Tennessee, including
- compensation to cover expected, related, and indirect monetary losses
- reimbursement of financial losses
- recovery of amount paid to enforce the contract
- payment for anticipated economic gains
- compensation for actual and potential damages
- punitive penalty
Tennessee Breach of Contract Statute of Limitations
Any legal recourse highlighting material breach of contract must be filed within six years of the contract’s breach. There may also be a statute of repose.
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