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Contract dispute basics

Agreements included in contracts are what make the business world work but sometimes those agreements do not work out and disputes arise. It is important to understand how to address a contract dispute.

Business litigation resources can help parties impacted by a breach of contract or other contract dispute address their concerns and damages. A contract outlines the agreement between parties doing business together and defines their obligations and responsibilities to one another. A breach of contract may occur in several different circumstances including if a party to the contract fails to perform its obligation in a timely manner; if a party to the contract fails to perform according to the terms of the agreement; or if a party to the contract fails to perform at all.

If a contract is breached, the non-breaching party may wish to pursue a claim for damages. The legal process provides resources and remedies to help aggrieved parties damaged by a contract breach recover damages for the harm caused by the breach. Damages that may be available include money damages; specific performance of the contract; cancellation of the contract which is referred to as rescinding the contract; or restitution damages.

Different damages may be awarded based on what is warranted in the circumstances which is why it is helpful for parties to a contract dispute to be familiar with the legal options available to them. Based on the nature of the breach, and the needs and goals of the non-breaching party, different options, including litigation or negotiation, may help the parties resolve their differences which is why it is valuable to be familiar with the legal resources, remedies and option available to help with a contract dispute.

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