As a business owner, CEO or entrepreneur, you likely enter into contracts on a regular basis. But what happens when one party doesn’t hold up their end of the bargain? And what does that contract, which you may not have even read thoroughly before you signed it, actually mean in legal terms?
In legal terms, a breach of contract occurs when one party fails to fulfill their obligations under the terms of the contract. This can happen for a number of reasons, including failure to pay or failure to perform the agreed-upon work.
If you suspect that someone has breached their contract with you, your first step should be to carefully review the contract itself. This will help you determine what the other party’s obligations are, whether they have actually breached the contract, whether there are any requirements to mediate or arbitrate the matter, where litigation would have to take place and whether either side would be entitled to legal fees if they prevail. Once you’ve done this, you’ll need to decide whether to take legal action.
Breach of contract lawsuits can be expensive and time-consuming, particularly in Orange County and Los Angeles County, so it’s important to consider your options carefully before deciding to file suit. In some cases, it may make more sense to try to negotiate a new agreement with the other party or simply walk away from the deal.
However, if you believe that the other party has significantly damaged your business or if they have refused to negotiate in good faith, then pursuing legal action may be your best option. An experienced breach of contract attorney can help you understand your rights and options under the law and determine whether filing a lawsuit is right for your situation.
No business owner wants to find themselves in the middle of a breach of contract dispute. However, these disputes are relatively common and can happen for any number of reasons. If you find yourself in this situation, we can help. Contact us to consult with an attorney experienced in breach of contract attorney today, before taking any legal action.
It is possible that we can litigate your breach of contract case on a contingency basis, rather than on a pay-as-you go hourly basis. Probably because of the contact breach and possibly for other reasons, your money may be tied up temporarily. We understand that, which is why we may be able to work you in such a way that you only pay a percentage of the settlement or judgment if and when we win your case and you collect your award. You can find out more about the contingency business litigation option here.