WHAT IS A CONTRACT?
A contract is a promise, or series of promises, that are either written or spoken between two parties. Each party to a contract promises to perform a certain duty or pay a certain amount. The agreement is meant to be legally binding and enforceable, so that each party will face legal consequences if their part of the agreement isn’t kept. Parties can sometimes spend months or even years negotiating contracts to protect themselves in the event of a breach of contract.
In order for a contract to be considered valid, there must be an offer, the other party must accept the offer, and there must be a type of payment or consideration for the services or goods. In addition to these, all parties should have a firm understanding of each contract term and mutually agree to the terms.
When there is a disagreement over a contract or part of a contract, this is considered a contract dispute. There are many reasons for contact disputes. Some types of disputes may come from having problems while creating and reviewing the contract, errors and mistakes found in the contract, or disagreements over a technical term. Other reasons for disputes could be due to financial problems or other unexpected events that could prevent a contract from being successfully carried out.
BREACH OF CONTRACTS
WHAT IS A BREACH OF CONTRACT?
Contract disputes are also often known as a breach of contract. A breach of contract occurs when the agreement is not kept, because one party to the contract does not fulfill their duty or obligation according to the contract's terms. A breach can occur if a party fails to perform within the time frame specified in the contract, does not perform in accordance with the terms of the agreement, or fails to perform whatsoever. If one party fails to perform while the other party fulfills her duties under the contract, the performing party is entitled to legal remedies for breach of contract.
WHAT HAPPENS IF A CONTRACT IS BREACHED?
Contracts typically contain information regarding the consequences as the result of contract breach, that often includes the ability for one party to bring a lawsuit against a breaching party. The party who experienced damages due to the breach of contract by the other party, may be eligible to request not only financial damages but additional damages based on the extent of future damages.
If you have experienced a breach of contract, consult an experienced attorney right away. The Law Office of Fernando Brito Jr. is knowledgeable of California breach of contract law and is well equipped to handle any contract dispute in San Bernardino County, Orange County, Los Angeles County, San Diego County and surrounding areas. Contact attorney Fernando Brito today for your free consultation.