Q: If the other party to my New York contract commits a material breach, can I terminate the agreement?
When one party to your New York contract violates the agreement, you may wish to terminate the contract. The New York Yankees, a Major League Baseball team, has currently found itself in such a position. Their star first baseman, Alex Rodriguez, allegedly took performance-enhancing drugs in violation of his contract. The organization is considering whether it can cancel Rodriguez’s contract and avoid paying him for the remaining 5 years under his agreement. Can you do the same if the other party to your contract has breached your agreement?
Depending on the facts and circumstances surrounding your claim, you may be able to terminate the contract following a material breach. This area of the law is complex, but an experienced New York breach of contract attorney can help you assess your potential available remedies. He or she likely will help you consider the following:
- Is the contract valid under New York contract law?
- Are you within the statute of limitations for breach of contract claims for New York?
- Does the breaching party have any valid defenses?
- Are your damages easily estimated?
- Are you ready, willing, and able to uphold your end of the bargain?
- What will you lose if the contract is not cancelled?
- Did the party in breach act in bad faith?
- Does the action or inaction of the breaching party go to the very core of the purpose of the agreement between the parties?
Since breach of contract actions in New York are rarely without unique complexities, it is vital that you have a knowledgeable professional in your corner. To learn more, contact a New York business litigation attorney today. Call our office at (888) 497-3410 for a consultation.