Contracts are some of the most important aspects of any company. Care must be taken in drafting contracts in order to protect your business and prevent future disputes. Contract disputes are among the most common of all problems that you will encounter in your business. You can reduce or eliminate these disputes by having your contracts properly created in the first place. Contracts should provide clear terms and wording so that there is no potential for future confusion. Contracts should include remedies for failure to uphold the terms of the agreement.
A contract must include certain things in order to make it valid:
- Offer, acceptance, and mutual consent
- Sound Mind
- Legal reason
Contracts should be used in many different business situations including in regards to real estate, construction, leasing, sales, distribution, and confidentiality. These agreements should be drawn up by an experienced attorney in order to ensure that you are protected now and in the future.
In the event of a contract dispute it is essential to seek the assistance of a qualified attorney. There are several different methods that can be used to successfully resolve contract disputes. In many cases it is best to try to resolve the issues without the added expense of litigation. Most cases of contract disputes can be quickly and easily resolved before they go to court by using negotiation and dispute resolution techniques. A mediator may be helpful for getting the situation properly resolved. If the case must proceed to court, your attorney will prepare your case and diligently defend your position.