Breach Of Contract
Business contracts are established for a variety of reasons, but at their most basic, they are formulated to outline each party’s exact involvement and responsibilities when entering into business agreements. As the documents are legally binding, any “breach” of the duties outlined in a contract can carry hefty legal penalties, potentially involving a company in a serious legal dispute. Therefore, it is important that you have a knowledgeable legal team on your side throughout the entire contract formation process, from drawing up these documents to taking action if another party has violated the terms of your agreement.
Common Types Of Contract Breaches
Since most contracts are wholly individual and specific, contract breaches can involve a variety of actions or inaction that violates a business’s agreements. However, there are several broad categories of breach of contract, including:
- Violations of nondisclosure agreements
- Repudiation of obligations specified in contract
- Inappropriate / inhibitory conduct
- Fundamental breach of contract
- Breach of warranty
If another person or party violates a contract they have made with your business, it can result in a number of devastating damages, such as the loss of trade secrets that allow your company to succeed. Thus, it is imperative to take swift, decisive action against someone who breaches a contract with you.
Business contracts are critical to the success of most companies, and when a breach of contract occurs, you need dedicated legal representation to protect your rights and your business. Fortunately, the business attorneys at Slater Pugh, Ltd. LLP are committed to helping our clients with breach of contract cases, including any associated documentation or litigation. If you have a breach of contract situation that is affecting your business, contact us today to discuss how we can help you.