Breach Of Contract And Commercial Litigation Attorneys
In addition to fraud and employment issues, breach of contract ranks high among cases that lead to commercial litigation. A contract is considered to be breached when certain specified duties are promised to be performed and that promise is not fulfilled. These can include expected services, mutually agreed-upon compensation, or other scenarios. When even one aspect of a written or oral contract is not upheld by a party who is legally bound to the contract, a breach occurs. A breach of contract can affect an array of parties, from individuals to major corporations, and can even result in a class-action lawsuit. Further, the onset of Covid-19 has left the business landscape ripe for contract-related issues.
Types of Contracts
Contracts are often thought of solely as written documents. In actuality, however, there are two different types: written contracts and verbal (oral) contracts. It is important to realize that verbal contracts regarding business dealings may in fact be viewed in the same way as written contracts. In the state of Florida, for example, business contracts that are made orally are legally binding as long as all parties involved accept the agreement and specific aspects are acknowledged and agreed upon. And while this is an allowable practice, it is always best to create and secure contractual agreements in writing.
Legal Recourse
Legal ramifications for a breach of contract can include monetary fines, business license revocation, a requirement for restitution to each of the negatively affected parties involved, or any combination of these. In certain instances legal mediation may be a useful, cost-effective tool in achieving resolution.
If you have been affected by a breach of contract, contacting an experienced commercial business lawyer for an initial consultation is an important step. It is helpful to research information about lawyers who specialize in Business Litigation, or if possible, who specialize in the particular type of Business Litigation lawsuit case you may be dealing with.
Many lawyers and legal teams offer free initial consultations. At Mallard & Sharp, P.A., we specialize in a wide variety of business litigation cases. To schedule a free initial consultation with our expert legal team call 877.662.5527 or 305.461.4800.