Businesses operate in an uncertain environment. In this space, a breach of contract with a business partner may disrupt normal operations. It is advisable to seek a speedy resolution from contractual disputes to reduce the financial and time cost. Dealing with a contractual dispute can be distracting and complex. A contractual dispute lawyer can support businesses to resolve the breach at minimal costs.
In legal terms, a contract binds the agreeing parties to specific terms and obligations. A typical contract will have offers, acceptance, obligations, and penalties. In most cases, a contract is a written document, although oral agreements may surface with relevant evidence. In case one of the agreeing parties break the terms of the contract, either by commission or omission, a breach arises. The following types of contract breaches may occur:
- Material breaches – arising from failure to fulfill an agreement
- Partial breaches – resulting from failure to perform part of the agreement
- Anticipatory breaches – arising when one party states they will not perfume their agreement
- Fundamental breaches – arises when one party cannot benefit from the contract due to total non-performance by the other party
- Multiple breaches – a mixture of all the breaches
Services Rendered by a Contractual Dispute Lawyer
Negotiating for amendments: Ordinary amendments to written contracts occur through the process of rectification. In this case, the contractual dispute lawyer pleads with the court to correct a signed contract. This service supports the client to amend the agreement to reflect its true meaning.
Seek for court injunctions: A contractual dispute lawyer can obtain a court injunction to prevent a contract breach. This strategy works well for anticipatory breaches. In this case, the court may offer a prohibitory or mandatory injunction. The former is an obligation to inaction, while the latter is an order for action.
Sue for damages: One popular resolution method for contractual disputes is suing for compensation. The contractual dispute lawyer will file for damages and argue for its merits in a court of law. The outcome may lead to a sizeable award of damages to restore the affected party's financial position. However, one may not recover all damages.
Contract cancellation: A court may declare a contract null and void through a rescission. Primarily, rescission applies to contracts made under undue influence, force, or misrepresentation. This service releases the parties from contractual obligations.
A breach of contract can be a costly affair for a business. In seeking redress, a contractual dispute lawyer is an invaluable asset. The lawyer guides you to seek damages, enforce agreements, and annul obligations. Reach out to a contractual dispute attorney to learn more.