If you are a business owner, you probably have entered into multiple different types of contractual agreements, such as vendor or supplier contracts, employment contracts, licensing contracts, or contracts to provide goods or services to customers. These agreements are meant to protect your rights and interests by ensuring that both parties fully understand their obligations, the timeframes for completing work or delivering products, the restrictions that apply to either party and the amounts and methods of payment. If one party to a contract fails to meet their contractual obligations or otherwise violates the contract’s terms, the other party may pursue business litigation to address the alleged breach of contract.
Issues Addressed During Breach of Contract Litigation
To be valid, a contract must include an offer made by one party, the acceptance of that offer by the other party, and consideration provided by one party to the other. This consideration may include a monetary payment or any other benefits received in exchange for agreeing to the contract’s terms.
A contract will fully detail the obligations that apply to each party, and any failure to meet these obligations will be considered a breach of contract. Litigation will typically involve material breaches of contract in which a party’s failure to uphold the terms of the contract defeated the purpose of the contract. However, litigation may also address a minor breach of contract in which a party only violated some of a contract’s terms or an anticipatory breach in which one party will be expected to fail to uphold some or all of their obligations.
...