A party to a contract breaches that contract if that party fails to uphold any term of the agreement. It does not matter if the parties made the contract orally or in writing — failure to abide by the terms of an oral or written agreement could constitute breach of contract. Breaches of contract often lead to lawsuits in which the non-breaching party seeks damages, restitution and/or a court order forcing the breaching party to comply with the terms of the contract. If you are currently involved in a contract dispute, an experienced Monmouth County business attorney can help you resolve it.
Breach of Contract Examples
Breaches of contract typically involve:
- Failing to perform under the contract as promised
- Hindering another party from performing under the contract
- Demonstrating an intent not to perform (known as an anticipatory breach)
Breaching a contract can have serious legal ramifications. If you need help understanding your contractual obligations, or if another party has failed to uphold their end of an agreement, contact a qualified Monmouth County business lawyer today.
Tips to Avoid Contract Disputes
Parties can often avoid contract disputes. You can start by putting all agreements in writing, even if you have done business with a person in the past or you know him or her personally. A well-drafted written contract makes it clear what each party has promised to do, clarifying the agreement not only for the parties involved, but also for any outsiders tasked with settling a dispute. Before entering into any contract, make sure it clearly outlines the duties and obligations of each party and read the entire contract carefully. It is important that all parties understand exactly what they are promising. A knowledgeable Monmouth County business attorney can assist you with drafting a new contract or reviewing an existing one.
Dealing With a Breach of Contract
Businesses rely on contracts all the time, including commercial leases and real estate agreements, sales contracts, employment contracts, partnership agreements, and licensing and franchise agreements. If you find yourself dealing with a breach of contract, you will need to evaluate whether the breach was “material” or “immaterial.” A material breach means the wronged party was denied a benefit they reasonably expected to receive. You will also need to determine if the breach caused any actual damages. Whether you are the wronged party or the party accused of breaching the contract, a Monmouth County business lawyer can evaluate the situation and help you take appropriate actions. Some contract disputes are resolved with a simple letter, while others require litigation.