Breach of Contract vs. Breach of Fiduciary Duty: Understanding the Difference & How We Can Help
In today’s world, contracts are everywhere and take many different forms such as job agreements, housing contracts, vehicle sales, and more. Fiduciary duty has also become more common as more people venture into different aspects of life where they need guidance. In both situations, fiduciary duty and contracts, legal action will arise if a breach occurs.
Have you been the victim of a breach of contract or breach of fiduciary duty? Call the SPGG attorneys today at 478-254-8866.
Understanding what a breach of fiduciary duty and breach of contract is important to your case:
What is a breach of fiduciary duty?
A fiduciary is anyone whose responsibility is to act in the best interest of a person or organization. They often handle many important issues such as estate, finance, services, or asset matters. When the fiduciary benefits from the breach and causes harm to the party involved, this is called breach of fiduciary duty.
When this breach occurs, it is important to seek legal help. In order to regain any lost income, fix estate issues, or any other important matters, the SPGG attorneys can help.
What is a breach of contract?
A contract is a document that lays out what both parties expect from the agreement. If the contract is broken in any way (failure to complete or partial completion), this is considered a breach of contract and legal consequences may arise.
If legal action is taken, the victims of breach of contract are often awarded damages, specific performance, cancellation, or restitution. The most common remedy for breach of contract cases is damages. Different types of damages include compensatory, punitive, nominal, and liquidated damages.
If someone has accused you of a breach of contract or you are the victim of the breach, contact the SPGG attorneys today to settle the dispute.