Contracts are some of the most important tools available to a Florida business. These agreements may sometimes contain clauses that outline what will happen if one party fails to adhere to the contract, such as specific performance. This clause could be particularly important in cases of breach of contract where compensation may not be the most appropriate or effective form of relief.
What does this clause mean?
When a breach of contract occurs, it can leave the non-breaching party in a difficult position. It may lead to financial loss and other complications that may impact the operations of the business in a negative way. If the original agreement contained a special performance clause, the offending party may be legally required to complete the terms of the contract.
Specific performance clauses are not necessarily ideal in every situation, but they could be useful in cases in which a monetary award would not be sufficient. To enforce this clause, the injured party must be able to prove they adhered to the terms of the original agreement and that the contract was valid. This form of relief is more rare than financial compensation, but it may be appropriate in some situations.
The creation and enforcement of contracts
A Florida business will benefit from the guidance and support of an experienced business law attorney when navigating challenges related to contract concerns. Whether it is drafting an agreement or enforcing a contract, a business has the right to seek the best possible outcome for a company. An assessment of the specific situation will determine if a specific performance clause is beneficial.