If you are sued for breach of contract, the legal repercussions will vary depending on the facts and circumstances surrounding your particular case. Generally speaking, a party to a contract may seek damages or other remedies if they can establish that there was a breach of contract. This means proving that the parties had all agreed to certain terms, that one of the contracting parties failed to fulfill their obligations under those terms, and that this failure caused some kind of financial harm or loss. Depending on what type of agreement is at issue, potential remedies may include monetary damages (to compensate for any losses), specific performance (requiring one party to fulfill its contractual obligations), rescission (canceling out any part or all of the agreement) or injunctive relief (an order from a court requiring someone to do something). In addition to seeking compensatory damages for lost profits and costs associated with enforcing the contract in court, it's possible that punitive damages could also be sought if fraud or intentional misconduct is involved.
It is important to note that not every dispute over an alleged breach of contract will result in legal action being taken against you - often times such disputes can be resolved through informal negotiations between both parties before reaching litigation. However, even if no formal lawsuit is filed against you following an alleged breach of contract incident it would still be wise to contact an experienced attorney so they can help assess your rights and responsibilities under applicable law as well as advise you on how best protect yourself in similar future situations. Additionally, consulting with counsel prior engaging in any form settlement agreements could prove helpful down the road when attempting resolve such matters without resorting costly litigation proceedings.
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