How Will You Try to Resolve Your Contract Dispute?
March 22, 2021
For many businesses in Texas, contracts are the bedrock of relationships with suppliers, vendors, marketing teams and customers – among many other potential business relationships. Each contract is usually unique, with unique parties and unique terms. And, unfortunately, it is not uncommon for disputes about contracts to arise from time to time. So, when a contract dispute arises and impacts your business, how will you try to resolve the issue?
The term “breach of contract” can be thrown around quite easily in contract disputes. In essence, such a claim asserts that one of the parties to the contract is not fulfilling the terms of the contract as intended. Once the contract dispute gets to this point, litigation may be inevitable, unless the parties can work through some type of alternative dispute resolution method, such as mediation. This is why it is so important to be proactive when it comes to business contracts. How can you do that? Well, start with having a well-drafted contract to begin with.
Making sure your business contracts are sound and well-drafted is a proactive step to take to attempt to prevent contract disputes from popping up in the first place. The preamble, recitals, terms – all of the details of the contract should be drafted carefully so as to fulfill and describe the exact nature of the business relationship to be created.
Business litigation can be costly and time-consuming. Having contracts that are well-drafted can help avoid such a scenario. At our law firm, we work with businesses in Texas that want to try to make sure that the contracts they use to lock-in business relationships leave little room for ambiguity. For more information, please visit the contract overview section of our law firm’s website.