Both individuals and businesses rely on contracts in performing their everyday operations. Contracts are binding agreements with clients, employees, partners, and vendors that define the responsibilities of both parties.
Very often, however, one of the parties fails to act under its stipulated responsibilities. In such a case, a breach of contract occurs.
A breach of contract can result from one party’s failure to pay on time, deliver the goods or services, or substitute inferior goods or services. Depending on the impact on the contract as a whole, there are two types of breaches.
A minor (non-material) breach of contract occurs when non-compliance with the contract’s provisions is not critical enough to question its integrity. It gives the complying party the right to sue for actual damages incurred and compel the performance. On the other hand, a material breach of contract has a decisive impact on the contract’s integrity. The contract is irreparable. In case of a material breach, the other party has the right to collect the damages.
Although the contracts are legally binding, the only way to enforce them when a dispute arises is by filing a breach of contract lawsuit.
However, a breach of contract as a cause of civil action must meet specific requirements to give the non-breaching party the right to a legal remedy. First of all, the contract in question must be a valid and binding agreement between the parties. In addition, one party must fail to meet its obligations under the agreed terms. Finally, as a result of the breach of contract, one party needs to suffer monetary damages.
When a breach of contract dispute occurs, the first step everyone involved should take is to seek help from an experienced contract dispute lawyers such as Jack Haller. Business contracts often involve complex and sometimes even hidden clauses that define mutual rights and obligations. For that reason, it is crucial to consult with a contract dispute lawyer who will help in exploring cost-effective and most practical solutions, including mediation and arbitration.
A well-versed contract dispute lawyer will advise its client on the most practical methods of contract dispute resolution. In some cases, it is vital to maintain a business relationship between the disputing parties and keep business information confidential. Such situations require engaging in some of the alternative dispute resolution methods. A contract dispute lawyer will help the client successfully navigate through each step of these procedures by making sure its rights are in safe hands during negotiations.
On the other hand, the complex nature of court litigation procedures requires a constant presence of an experienced contract dispute lawyer. To prove a breach of contract allegations in the Court of Queen’s Bench of New Brunswick, the party must undergo an exhausting process of disclosures, discovery, witness examination, and closing arguments. It is practically impossible to succeed in litigation and recover the damages without the help and representation of an experienced contract dispute lawyer.
Therefore, an experienced contract dispute lawyer plays a central role in protecting personal and business interests and ensuring the favorable financial outcome of each contract dispute.