Contracts are an essential element of operating a business and are used in almost any situation regarding a transaction or agreement. A written contract is preferred instead of verbal, as the terms are outlined and all parties can refer to it for clarity on what is expected of them. However, even written contracts can fail when they are not properly written, leading to misunderstandings that can develop into disagreements or even litigation. If your business is dealing with a contract dispute or breach, we urge you to speak with our Montvale, NJ breach of contract lawyer as soon as possible. At Kantrowitz, Goldhamer & Graifman, P.C., we can review possible resolution approaches and watch out for your best interests.
Responding To A Breach Of Contract
Disputes over a contract and its agreements is actually fairly common, and many businesses may encounter this situation at some point in their career. When left unresolved, it can develop into contract litigation that is both time-consuming and costly for all parties. The shortcomings of a contract may not be identified until the disagreement happens and the parties discover that the contract does not resolve the problem. When the parties involved do not agree over obligations or entitlements, it can form the basis for allegations in a breach of contract lawsuit.
Examine Terms Of The Contract
The initial step in responding to a breach of contract is to view the terms of the contract and correspondences between parties. Our knowledgeable breach of contract attorney can carefully look at the contract and determine if it was valid, then offer advice on how to handle a violation to its terms. Depending on the situation, paying the damages to a contract breach may be less costly than fulfilling the original expectations. Please let our team consult with you today and provide individualized advice based on your circumstances.
Consider Contract Term Renegotiation
When one party realizes that they cannot perform the requirements of the contract, it may become necessary to attempt a renegotiation of the contract terms. This can give more flexibility to the situation and realign the terms with current limitations and realities within the business relationship. This can also preserve the dynamic while establishing expectations that are more reasonable and minimize potential damages. It can be worth the effort to first identify the non-performance and give the party a chance to correct their breach before escalating to litigation.
Kantrowitz, Goldhamer & Graifman, P.C.
A breach of contract can interrupt business operations and can result in financial impacts. At Kantrowitz, Goldhamer & Graifman, P.C., we are aware of how a business can be affected due to a contract agreement breach. It can be worth the time to give the breaching party an opportunity to amend their breach before entering litigation, as going to court can be expensive and prolonged. But if the matter must move forward to litigation, then our Montvale breach of contract attorney can get you prepared while watching out for what is in the best interest of your business. For immediate assistance, contact our team today.