February 18, 2021
When it comes to running a successful business, contracts are essential. Contracts may involve various aspects of a business, including employment, services, goods, sales, and debt repayment. The primary purpose of a business contract is to ensure that all of the parties to the contract follow through on their obligations. Unfortunately, however, this does not always happen, and one or more parties to the contract violate their contractual obligations. In some cases, these contractual breaches are unintentional, while at other times, one or parties to a contract intentionally breach the contract.
Breaches of business contracts can lead to lost time, resources, and revenue. Moreover, a breach of contract can prevent a business from being able to follow through with its own obligations. Experienced Birmingham breach of contract lawyer Maxwell Goss of Maxwell Goss Law can assist you and your business with resolving a contractual dispute, and if necessary, litigating the dispute through the state court system.
In order to prove that breach of a business contract occurred, you must demonstrate that there was a contract in existence (i.e., that there was mutual assent on the part of all of the parties to the contract), that one or more of the parties to the contract breached the contract, and that you suffered some type of damage.
In order for a valid contract to exist, one of the parties must have made an offer, and the other party must have accepted this offer. In addition, there must be a meeting of the minds between the parties to the contract. In other words, the parties to the contract must understand the nature of their obligations and must agree to be bound by the language in the contact. The parties to the contract must also be mentally competent, and the subject matter of the contract must be legal in order for it to be enforceable.
Although not all contracts have to be in writing in order to be legally enforceable, having the contract in writing can help to make it less ambiguous. Finally, the contact must be mutually beneficial to all of the parties.
In order to prove that a business contract was breached, the claimant must be able to demonstrate that one or more of the parties to the contract did not follow through with one or more contractual obligations. Moreover, the contractual breach must be material, such as when a party completely fails to perform an obligation under the contract.
In order to be successful in a breach of contract claim, the claimant must also demonstrate that the contractual breach resulted in one or more damages. In most cases, damages are financial losses.
For more information, contact us today (248) 266-5879.
February 18, 2021
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