How to Quickly Negotiate Six Figure Settlements in Breach of Contract Disputes
- 1). Read the contract that you believe to have been breached. Write a list of products or services that were not delivered, then write the estimated value of each product or service. For example, if the contract stipulated that "x shall give "y" 10 new Widget Brand Cars by 2011," look up the retail value of Widget Brand Cars on the company's website and place that value on a page.
- 2). Write a tally of future earnings you lost as a result of the contract breach. Calculate these figures if your contract involved an agreement for paid education or a job. For example, if your employer walked out on an signed agreement to pay for your MBA, write the estimated lifetime earnings of an MBA holder. These figures vary from location to location, but national average figures can be found online at education ranking websites (e.g. www.usnews.com).
- 3). Hire a lawyer specializing in contract law. If the contract dealt with the provision of products or services, go with a general litigator. If the contract was between you and an employer, hire an employment lawyer. If you know anyone who has negotiated a settlement before, ask him to recommend a lawyer. Once you have an idea of which lawyers in your area are reputable, arrange an initial meeting by contacting the secretary and asking him to set up an appointment. Don't pay a retainer for help reaching a settlement; request a lawyer who works on contingency.
- 4). Provide your lawyer with your estimate for the value of the breached contract. Also provide all receipts, estimates and documents you used to arrive at these figures. If your lawyer mentions that he needs to depose (interview) key individuals, provide your lawyer with the needed contact information. Provide your lawyer with anything he asks for, since it is his job to determine how much you can realistically expect to settle for.
- 5). Inform the other party that you are pursuing legal action against him. Tell him that you are willing to settle out of court. Ask him how much he is willing to settle for. Carry out these communications through your lawyer (i.e. tell your lawyer to contact the individual).
- 6). Instruct your lawyer to initially ask higher than what you are expecting. If the high offer is refused, gradually "slide" to a more reasonable settlement range. It is important to ask for more initially so that the other party is more willing to comply with the settlement you are actually looking for.
Source...