Answer: If your business partner breaches the contract, you have the right to pursue legal action. In most jurisdictions, a breach of contract is defined as one party failing to fulfill their obligations under the agreement or causing damages to another party. Depending on the specifics of the agreement and applicable law, this could include not fulfilling payment obligations, violating confidentiality clauses, failing to comply with deadlines and other contractual stipulations or responsibilities.
Under such circumstances, you may be entitled to various forms of relief including monetary damages for any losses that occurred due to the breach; specific performance requiring your business partner upholds their commitments; canceling or rescinding (“rescission”) of an existing agreement; or injunctive relief prohibiting further violations.
It is important to note however that certain types of contracts may require additional forms of compensation if breached - such as liquidated damages - and court orders granting these remedies must be obtained through a civil lawsuit based on case-specific evidence provided by both parties. Furthermore some state laws may provide exemptions from liability for certain types of agreements depending on their purpose and type – so it is critical that all relevant local regulations are taken into consideration when seeking legal remedies in cases like these.
If you believe your business partner has violated your contract then we would recommend consulting with an experienced attorney who can evaluate all relevant facts in order determine which recourse(s) might fit best for your situation – including analyzing potential limitations or exceptions based on applicable laws in addition filing necessary documents required by courts within the jurisdiction where claim will be made if litigation becomes necessary.
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