Breach of Contract
One of the most common disputes that arise over the course of business is breach of contract. To sufficiently state a claim for breach of contract, there must be: (1) an enforceable valid agreement between the parties; (2) a breach of a material term of the agreement; and (3) damages that have been incurred due to the breach. While the elements appear simple, this area of law is extremely nuanced due to the litany of defenses that may be raised to excuse performance, attack enforceability, or minimize damages.
(1) Are oral contracts enforceable? It depends. In both Illinois and Indiana oral contracts are enforceable as long as there is an agreement between the parties and sufficient consideration. However, there are a few types of transactions that must be in writing under the statute of frauds in order to be enforceable.
(2) Can I recover attorney fees from the breaching party? Only if the contract contains a clause that states the prevailing party in a dispute under the contract shall recover attorney's fees.
I have had success in both prosecuting and defending breach of contract claims for companies and individuals in Illinois and Indiana. If you have a breach of contract matter that you would like to discuss you can contact me at (312) 422-8000 or firstname.lastname@example.org.