Compensatory damages are a remedy for breach of contract in Louisiana. Damages may differ if the contract is for goods, services, real estate, or other consideration. Generally, the standard measure of compensatory damages is an amount that equals the difference between the value promised under the contract and market value.
A good contract is a well-devised means of conveying a business arrangement between parties, so that everyone fully understands the expectations of each party and their rights and obligations. When a contract is broken, it can cause serious repercussions to a party, even causing them to breach additional contracts. Contract enforcement can prevent or remedy a breach of contract terms.
An unenforceable contract is only as useful as the paper it’s written upon. Unfortunately, you may not realize the contract is unenforceable until the other party breaches its obligation, at which point your discovery is too late. Your contract must comply with basic rules at the drafting stage to be enforceable.
Our economy relies on competition. A company that engages in unfair trade practices undermines our economy and consequently hurts other businesses and consumers. Unfair trade practices are unlawful under federal and Louisiana laws. However, your company may be wrongly targeted for thwarting competition even though your actions are entirely lawful.
Litigation is expensive, time consuming and distracting. Furthermore, a lingering dispute can take its toll on your business’s reputation, customer goodwill and employee morale. These are just some of the reasons that litigation should be a last resort.