What Is a Breach Of Contract And a Quasi-Contract?

A contract is an essential part of a business activity. One cannot imagine running a business without signing any contracts. A contract is an agreement between one party that makes an offer and another party/parties that accept it.

A contract law is the heart of a commercial litigation process. A contract can be classified into two basic types: Unilateral contract - the one that provides legal binding to a party for payment in exchange for a service and Bilateral contract - the one where two or more parties exchange promises.

A breach of contract is a failure of one or more party to fulfill its promise that it made in the contract. Since a contract is a legally enforceable agreement, in an event of a breach of contract a party can file a lawsuit.

In many cases, contracts are using ambiguous terminology. The use of such terminology gives rise to a dispute. Retaining an experienced and skilled Rockland County civil litigation attorneycan ensure you do not lose the litigation.

Also, in certain circumstances, New York state laws permit the recovery of indirect damages. These are also sometimes referred as consequential damages. There is another term that you must know here, it is a Quasi-contract.

A Quasi-contract is a contract that is implied by laws created by courts. It is created to avoid any unjust action done by a party to another in the absence of any written contract. The logic behind a quasi-contract is simple, a contract should exist even when it wasn’t formed by the parties that are involved.

It is important to examine all the facets of contracts and quasi-contracts and based on the same, a proper analysis should be done regarding potential liability by the civil litigation attorney.