The success of many business and other types of relationships depend on contracts and how well written they are, how enforceable they are and on having the resources and knowledge to handle contract disputes that might come up. Well written contracts can help protect the interests of the parties and can also help possibly prevent contract disputes down the road.
Because contracts outline the obligations and responsibilities of the parties to one another, the more those obligations and responsibilities are clearly laid out and specifically defined, the better chance the parties have of avoiding litigation related to a contract dispute. Clearly negotiating and recording contract terms, ensuring all the requirements of contract are properly met and that the contract is properly executed can help avoid contract disputes and problems down the road.
Contract-related disputes can arise in a variety of contract situations including construction contracts, employment contracts, residential and commercial leases, residential real estate contracts, commercial real estate contracts, noncompete agreements, partnership agreements and credit agreements and collection actions. Different legal options may be available depending on the circumstances and goals of the parties. A contract dispute may be addressed through negotiation, mediation, arbitration or litigation and different remedies may be available based on the situation.
Because contract disputes can be complex, trained guidance through the process to determine the best legal resources available to resolve the dispute as efficiently as possible can be helpful. Contracts provide the foundation of most business relationships and transactions so it is essential to be familiar with how they work and what to do if they go wrong.
