What is a Breach of Contract?
Contracts are legally binding agreements that involve one or more of the parties making an offer that the other party subsequently accepts. If one or more of the parties does not carry out the duties or obligations in the contract, this is called a breach of contract. This often will involve failure on the part of one party to provide payment or deliver goods that were specified in the contract. When the contract’s terms have been broken by someone, the other party may sue for damages.
Business attorneys can defend against or pursue a breach of contract claim. The first step in a successful breach-of-contract lawsuit is establishing that the contract exists. Contracts are not enforceable unless all parties have signed it in the absence of duress. Proof that the contract was not fulfilled may also be needed. These are two examples of why having a well-written contract with clear terms and context is vital to protecting the assets and rights of each signer.
What are Business Transactions?
Business transactions involve plans, negotiations, and legal documents that a company uses to sell supplies, services, or goods. Whether a company is local and family-owned or a large corporation, business transactions are the foundation on which they operate.
Business lawyers help in each step of a transaction, ensuring the process goes smoothly and is legally sound. Business transaction lawyers oversee every aspect of documentation and advocate for terms favorable to their client. Business transactions include purchase/sale agreements, business formation documents, real estate leases, construction agreements, licensing and trademark agreements, mergers & acquisitions, equipment leases, and other kinds of business contracts.
Can a Company Compel Another Company’s Actions?
If a business wants to force another company to stop pursuing a particular course of action, injunctive relief may be necessary. This involves one business taking another to court and would become successful after settling or gaining a favorable verdict in a lawsuit. An injunction would stop the defendant from continuing a specified activity. To address malfeasance or other legal wrongdoing, business attorneys are able to pursue a preliminary injunction, a permanent injunction, or what is known as a temporary restraining order.
Injunctive relief may be called for in many situations. For example, a business owner may recognize that a competitor’s products infringe on their trademark. In this case, the business owner could pursue injunctive relief in order to make the other company stop producing that product. Situations involving bankruptcy, theft of clients, minority shareholder actions, and breach of contract could also include injunctive relief.
How Could a Business Dispute Affect a Company?
It is a prudent course of action to address business disputes quickly. This prevents escalation from causing further harm to the company. Whether the matter involves an employee/employer conflict, partnership dispute, or a vendor lawsuit, negative consequences could multiply if things are not handled in a timely and appropriate manner. A business litigation lawyer is qualified to assist a company with the full range of business conflicts.
If a business dispute is not managed well, it could affect the company financially by reducing sales and revenue, lowering employee productivity, increasing employee turnover, necessitating complex leadership changes, hurting the reputation of the company, raising the likelihood of workplace violence, or decreasing employee morale. Additionally, a lawsuit could be filed against the company and bring about a costly, time-consuming trial.
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The Law Firm of
Carlson & Cohen, LLP.
16133 Ventura Blvd
Penthouse
Encino, California 91436
Phone: (818) 905-5600
Fax: (818) 995-7335
