Contracts play a prominent role in modern society. While a handshake used to be an acceptable promissory action, modern agreements are usually put in writing in the form of a contract. Contracts are designed to spell out the duties and obligations of each party entering into the agreement.
To protect yourself against contract disputes in the future, take the time to learn some important facts about these vital documents.
1. Disputes can arise over both oral and written contracts.
When it comes to negotiating with another individual or company, you must absolutely watch what you say. Many states recognize oral contracts as being legally binding agreements.
This means that even though you don't have the terms of your agreement in writing, any promises made by the parties during negotiation are subject to legal enforcement. Contract disputes that center on an oral contract can be challenging to prove, so it's always better to insist on having all legally enforceable terms in writing.
2. Disputes can be centered on opposing interpretations.
Because a contract serves as a legally binding agreement between two or more parties, the language used within the contract needs to be clear and concise. Ambiguous language, unclear clauses, and obscure terms could leave room for varying interpretations. Contract disputes often arise over these opposing interpretations.
To avoid the potential for a contract dispute in the future, have an experienced attorney draft your contract agreement. These professionals have the knowledge and skill required to create a contract that clearly spells out all obligations and promises in terms that leave no room for interpretation.
3. Breach of contract claims can protect your interests.
In the event that someone you enter into a contract with fails to live up to his or her promises, you can file a breach of contract claim with the court. These breach of contract claims are designed to help those injured by contract violations seek potential remedies to offset damages.
You can request either a specific performance remedy or a monetary remedy. The specific performance remedy will require that the other party fulfill his or her contractual obligations. A monetary remedy requires that the court place a value on the inconvenience and potential financial losses you experience as a result of contractual non-compliance.
A civil litigation attorney will be able to evaluate the specific circumstances applicable to your case and recommend which type of remedy is more likely to be awarded. For more information, contact a civil litigation law office such as Hart Law Offices, PC.