Q: What happens if a breach of a New York contract is not discovered until many years after the breach?
If the other party to your New York contract clearly breached your legally enforceable agreement, you suffered harm as a result, and you fulfilled your end of the bargain, you have a claim for breach of contract. For any number of reasons, however, sometimes the breach is not discovered right away. For example, disgraced cyclist Lance Armstrong only recently confessed to using performance-enhancing drugs during his decades-long career. Use of the drugs put him in breach of many contracts with corporate sponsors. What happens when the breach is discovered later?
It depends both upon the terms of your contract and the statute of limitations in New York for breach of contract. If your discovery of the breach falls outside of the statute of limitations, you might be barred from bringing a claim. If you recently discovered a breach of contract that occurred in the past, it is important to consider taking the following actions:
- Contact an experienced New York breach of contract lawyer right away for guidance.
- Obtain copies of the agreement and deliver them to your attorney.
- Carefully review the terms of the contract with your lawyer.
- Outline the circumstances under which you discovered the breach.
- Calculate the damages that you suffered as a result.
It is vital that you take these actions as soon as possible once you uncover the breach of contract. Time is ticking and if you do not act quickly, you could lose your ability to recover for your losses. Contact an experienced New York breach of contract attorney today for more information. Call our office at (888) 497-3410 for a consultation.