Breach of fiduciary duty offers a wonderful panoply of remedies: legal remedies, equitable remedies, a right to an accounting, an award of money damages, disgorgement of self-dealt profits, and finally, if pled derivatively, the potential to recover attorneys' fees.
You may be able to resolve a breach of contract through mediation or arbitration. If this is not possible, and the breach is too severe or has led to consequences that are irreversible, then you may need to seek monetary damages and restitution through Los Angeles and California courts.
Under the law, once a contract is breached, the guilty party must remedy the breach. The primary solutions are damages, specific performance, or contract cancellation and restitution. Compensatory damages: The goal with compensatory damages is to make the non-breaching party whole as if the breach never happened.
Defining Contract Negligence In the U.S., negligence falls under an area of “tort law” while breach of contract is an area of “contract law.” A “tort” is a wrongful act that causes injury or harm to another. There are intentional torts and negligent torts.
In most states, this ranges from $1.500 to $15,000. It's a fairly simple process, with the judgment taking place right away and limited right of appeal.
Those who are guilty of a breach of contract may not be imprisoned as it is a civil case, and not a crime. They can, however, be held liable for damages, as previously mentioned.
A breach of contract is when one party breaks the terms of an agreement between two or more parties. This includes when an obligation that is stated in the contract is not completed on time—you are late with a rent payment, or when it is not fulfilled at all—a tenant vacates their apartment owing six-months' back rent.
The defendant's negligence must cause the claimant's loss and the loss must have been a foreseeable consequence of the breach of duty. The aim is to compensate the claimant by putting them in the position that they would have been had the contract been performed.
Breach of duty occurs when a person's conduct fails to meet an applicable standard of care. It is one of the four elements of negligence. If the defendant's conduct fails to meet the required standard of care, they are said to have breached that duty.