Contracts are critical for businesses. Whether it’s a supplier agreement or a merger, a contract binds two or more parties to the outlined terms and sets forth their obligations to ensure accountability. However, regardless of how well-written or executed an agreement is, contract disputes can arise. And although contract disputes are common, they are far from standard.
If you or your company has experienced a contract dispute, you need experienced attorneys on your side. At Halperin, Halperin & Weiskopf, PLLC. our staff of lawyers will provide the legal advice, representation, and care you expect so you can focus on your business. For more information on our legal services or to schedule a consultation, please contact us today.
Contract disputes typically involve a breach of the contract. Namely, at least one party does not uphold the terms of the deal. These conflicts generally occur at one of two points during the contract process:
Commercial law often recognizes two types of disputes, as follow:
Contract disputes do not just occur between two entities. Many disputes arise between employers and their workers, business partners, and managers. Vague language or allegations can lead to a suspect breach, which typically occurs with the following agreements:
The courts only consider a contract valid under certain conditions:
That being said, disputes may occur at any time. Some common reasons include:
A non-breaching party can pursue the following in a breach of contract dispute:
Some contracts even include a liquidated damages clause that the parties agree to before signing, which sets forth the amount in damages owed in the event of a contract breach.
No one wants to go through the frustration of contract disputes, breaches, and litigation. Even so, some conflicts seem impossible to avoid. However, the negotiating parties can help prevent disagreements by taking the following measures during preliminary contract negotiations.
A contract attorney can often help during contract negotiation, drafting, and signing. They can also represent your business before a judge if a breach or dispute occurs. That being said, not all disputes go to trial. Depending on the circumstances and relationship between the parties, alternative dispute resolutions, such as arbitration or mediation, can be effective in resolving contract disputes.
Alternative Dispute Resolution: Alternative dispute resolution (ADR) occurs when parties in a dispute agree to settle outside of court. There are several different forms of alternative dispute resolutions, including mediation and arbitration.
Mediation and Arbitration: Many involved in contract disputes choose mediation or arbitration for a positive outcome. During the arbitration process, an arbitrator hears from both sides. Then, they make a decision regarding the breach. Like a trial, both sides share evidence and testimony; however, this process is typically less expensive and results in a faster verdict. Mediators do not make a decision. Instead, the mediation process helps the parties work toward an agreement. A trained mediator meets with both sides to assist in resolving the breach or dispute and find a fair solution.
Litigation: In the case of a contract dispute, resolving your case through litigation would entail choosing a contract dispute attorney, extensive pre-trial preparations/court proceedings, and a comprehensive multi-staged trial followed by jury deliberations and a verdict. Litigation is typically the longest and most expensive method of settling a contract dispute and it is typically reserved for when other types of resolutions have failed.
At Halperin, Halperin & Weiskopf, PLLC., our staff of civil and commercial litigation attorneys have served our clients for more than 40 years. Whether you’re involved in a contract dispute or want a lawyer to guide you through a new deal, you can trust our experienced team of attorneys to protect your interests. Call us at 212-935-2600 or fill out our form online to schedule a free, no-obligation consultation with one of our expert commercial litigation attorneys.