No business owner wants to be embroiled in a contract dispute. Contracts are the lifeblood of practically every business. Being involved in a contract dispute could not only harm the profits of a business, but it could also disrupt the relationships that business has with other parties. If your business is in the midst of a contract dispute, you should contact an experienced Columbia contract dispute lawyer today.
The Heyman Law Firm can help you examine your unique contract dispute case and determine an appropriate way to resolve the issue for your business. Our firm has worked with businesses in Columbia, Baltimore, and across the State of Maryland, and we are prepared to work with you. To schedule a confidential legal consultation, contact the Heyman Law Firm at (410) 305-9287, or contact us online.
Common Types of Contract Disputes
Contracts are necessary for a business to operate on multiple levels. A successful business will not only need to form contracts with other businesses and suppliers, but it will also need to form contracts with employees. As contracts are likely the most important part of operating a business, it is wise to resolve your Columbia, MD contract dispute as soon as possible.
The following is a list of common types of contract disputes.
Breach of Contract
To execute a valid contract, the parties to the contract must satisfy the following elements:
- The offering of a promise for a promise or a promise for performance (e.g., offering money in exchange for services)
- The acceptance of the offer
- Valid consideration for the contract (offering a $1 million property for $2,000 is an example of consideration that is not valid)
- Mutual agreement regarding the terms of the contract
If two parties have met these elements when drafting and signing a contract, the failure to perform the promises in the contract will result in a breach of contract. For example, if a supplier fails to deliver goods on the date agreed to in a contract, this can trigger a breach of contract claim.
A failure to perform is not the only way that a breach of contract may occur. If a party repudiates the contract and expresses its intent not to perform the contract, this can also be considered a breach. Breach of contract claims can seriously cripple a business that may be relying on a certain service or supply of goods.
Misrepresentation or Fraud
When a business is purchasing real estate, machinery, or other large purchases, the owners of a business will want to know every detail about their purchase before signing a contract.
If a contract concerns property, the buyer may want to know whether the property is infested with insects or whether the property is even outfitted for the purpose the buyer needs it for. In addition to having the property inspected and surveyed, the buyer will also be relying on assurances made by the seller. If a seller misrepresents details of the property or fabricates information, this could open them to liability for misrepresentation or fraud.
This is just one way that misrepresentation can occur in a contract. Business owners must always be aware of other parties that seek to take advantage of their business.
Employment Contracts
Employment contracts can cover a wide range of topics. If a business requires trade secrets and other confidential information to operate successfully and is concerned about employees leaking this information to other competitors after they depart, a non-competition agreement is one type of employment contract that can help.
A non-competition agreement is used to prevent a former employee from taking confidential information to the competitor of a business. This type of agreement is typically only used for high-ranking employees that are extremely familiar with the inner workings of a business. While there are some limitations to this type of contract, a breach of the agreement can result in a former employee being held liable for their actions.
Disputes over employment contracts often occur because the contract is too restrictive for an employee. For example, if a non-competition agreement prevents a person from working within a state, they reside in, this could lead to the contract being invalidated.
There are many other types of contract disputes that are not discussed above and that our Columbia, MD contract dispute firm is prepared to handle. Aside from an award of damages, our firm can help you pursue other legal remedies like an injunction or even a rescission of the contract.
Contact an Experienced Columbia, MD Contract Dispute Attorney to Review Your Claim
If you require legal assistance to manage a contract dispute, you should consult with an experienced Columbia contract dispute attorney. The business advisory attorneys at the Heyman Law Firm possess decades of combined legal experience, and we are prepared to use this knowledge to provide your business with the aggressive and unique legal representation it deserves. To schedule a confidential case evaluation, contact the Heyman Law Firm at (410) 305-9287.