A contract is defined as a legally binding agreement that recognizes and governs the rights and duties of those involved, whether it be two or more parties. An agreement typically involves the exchange of goods, services, money, or the promise of doing so later on. In today’s business world, contract disputes are fairly common, regardless of the industry. When an agreement is drafted and signed, this binds the parties together for a period of time. However, when one party deviates from the terms of the agreement, this is known as a breach of contract. Employees usually have to sign a contract before starting work with a company. This can also apply to freelancers or independent contractors.
Contract disputes typically arise as a result of one party not abiding by the terms of the contract. This can occur when a person does not perform his or her obligations or fails to comply with the rules in the agreement. In some cases, the legal agreement may have left out important information that causes a dispute. In other situations, a person may falsely represent his or her qualifications for a job or project.
Another major reason for breach of contract stems from the interpretation of the terms between the parties. When two parties disagree about the meaning of their respective responsibilities, that can cause problems. If an individual does not uphold his or her obligations outlined in the contract, the other party can file a lawsuit under the claim of a breach of contract.
Below are a few of the main causes of a contractual dispute:
Contractual error or omission
Failure to administer correctly
Breach of duty
Disputes are a part of life, including in business dealings. If you are a business owner, and you are facing a contract dispute, you need a skilled Illinois contract litigation attorney to build an aggressive defense on your behalf. At the Miller Law Firm, P.C., we represent small and mid-size businesses throughout northern Illinois. If you are concerned about any type of contractual dispute, we can help you reach a resolution that will protect your company's interests. Call us today at 847-995-1205 to schedule your free consultation.Sources: http://www.ilga.gov/legislation/ilcs/fulltext.asp?DocName=072000050K33E-2