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Considering a Lawsuit Loan Due to a Breach of Contract?
Posted By Eliza Beth
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Have you been treated unfairly by another individual with whom you entered a contract? Do you feel as though the other party has breached that contract and wish to pursue a claim action against the other party? If so, it will be necessary for you to gather specific documents to support your claim. If you follow the simple steps identified in this article, you should have little trouble pursuing such a cause of action. However, if you fail to follow the steps, you'll find it very difficult to prevail in such a cause of action. Furthermore, you will find it difficult, if not impossible, to obtain a best rate lawsuit loan to assist you with the expenses incurred during this litigation.
The first step you must take is to conduct a Case Review. In doing so, it will be necessary for you to obtain specific documentation that identifies how the other party violated the contract in which you and the other party entered. The violations must be outlined in the four-corners of the contract at issue. You need to realize that these causes of action typically sound in Courts of Equity. Numerous factors are considered in such venues that are not customarily taken into consideration in courts at law.
Another factor to take into consideration would be your ability to collect from the other party. You're customarily wasting your time if you pursue a judgment-proof defendant. Most attorneys would advise you not to waste your time pursuing someone against whom you may obtain a judgment, but from whom you would never be able to collect.
Review the contract carefully to make sure that the other party violated one or more specific provisions contained in the contract. You may need to consult with an attorney to determine as to what the specific violations may be. The Statute of Limitations will be running, and it will be necessary for you to make this determination relatively quickly. As is true in most cases, time is not on the plaintiff's side! If you're unable to determine the specific violations, you may want to rethink your position as to whether you wish to pursue a claim against the other party.
Once you've reviewed your case, decided as to whether the defendant has anything with which to pay any judgment that may be taken against them, and the specific provisions violated, it is now time to determine your specific cause of action against the defendant. If you have not already retained the services of an attorney, this is a point at which you certainly want to do so. It will be necessary for you to identify the correct cause of action against the defendant. If you identify the wrong cause of action, you may both fail in your cause of action and find yourself responsible for expenses and attorney's fees the other party may have incurred.
You will also want to review the other party's credit-history, the other party's history of paying for his/her debts, and the other party's history of dealing with other individuals in the same or similar business transactions. If the other party has a history of treating other individuals unfairly, this conduct increases the likelihood of your prevailing against that party. However, if the other party has treated individuals fairly, then this certainly will be weighed in the defendant's favor.
You must also verify payoffs on any prior loans and/or advances, if any. In many cases, the plaintiff will find it necessary to pay off any existing loans for which the other party and plaintiff are jointly-liable before pursuing a claim against the defendant. Additionally, if the parties have obtained financial-advances, these advances must either be repaid or reconciled before determining the resultant damage caused by the alleged breach.
When you follow these simple steps, you'll find it relatively easy to prevail in your claim. However, if you fail to follow the steps, you greatly increase the likelihood that your cause of action will fail and you will be unable to obtain a lawsuit loan to assist you with the expenses incurred when pursuing such a claim.
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