A contract dispute is a disagreement between two or more parties over the terms of a contract. Contract disputes can arise in various contexts, including business, real estate, and employment.
In New York and New Jersey, contract disputes are governed by the common law of contracts. The common law of contracts is a set of legal principles that have developed over time through court decisions. These principles easily guide you on how contracts should be interpreted and enforced.
There are many different types of contract disputes. Some of the most common types of contract disputes include:
- Breach of contract: This occurs when one party to a contract fails to fulfill their obligations under the agreement. For example, a breach of contract could occur if a seller fails to deliver goods they have agreed to sell or if a buyer fails to pay for goods they have decided to purchase.
- Misinterpretation of contract: This occurs when there is a difference of opinion about the meaning of a term or provision in a contract. For example, if a contract needs to be clarified about who is responsible for paying for shipping costs, there could be a dispute about the interpretation of the contract.
- An unenforceable contract occurs when a contract is invalid or void for some reason.
For example, an agreement may only be enforceable if it is in writing or if it is signed under duress.
If you are involved in a contract dispute, seeking legal advice as soon as possible is vital. An experienced attorney can help you understand your legal rights and options and can represent you in negotiations or litigation.
The Law Offices of SRIS.P.C., have wide experience in contract dispute cases in New Jersey & New York. We have a team of experienced attorneys who can help you resolve your contract dispute promptly and efficiently. We offer an effective initial consultation, so don’t hesitate to get in touch with us today to discuss your case.
Here are some of the ways that The Law Offices of SRIS.P.C., can support you in a contract dispute:
- We can help you understand your legal rights and options. We will explain the law that applies to your case and discuss your available options for resolving the dispute.
- We can represent you in negotiations. We can negotiate with the other party on your behalf to try to settle.
- We can represent you in litigation. We can represent you in court to seek a possible judgment if negotiations are unsuccessful.
- We understand that contract disputes can be stressful and time-consuming. We are here to help you resolve your dispute quickly and efficiently. Contact us today to schedule an initial consultation.
Penalties of Contract Disputes:
- Breach of contract: This occurs when one party to a contract fails to fulfill their obligations under the agreement. The penalties for breach of contract can vary depending on the specific terms of the contract, but they may include:
- Damages: The non-breaching party may be entitled to recover damages for their losses, including actual damages (such as the cost of repairing or replacing damaged goods) and consequential damages (such as lost profits).
- Specific performance: In some cases, the non-breaching party may be entitled to specific performance, which means the breaching party is ordered to fulfill their obligations under the contract.
- Rescission: The non-breaching party may be entitled to rescind the contract, which means that the contract is terminated and the parties are restored to their pre-contractual positions.
- Misinterpretation occurs when there is a difference of opinion about the meaning of a term or provision in a contract. If the parties cannot agree on the purpose of a term, it may be necessary to go to court to have the term interpreted. The court will look at the language of the contract, the surrounding circumstances, and the intent of the parties to determine the meaning of the term.
- An unenforceable contract occurs when a contract is invalid or void for some reason. For example, an agreement may be unenforceable, or if a minor has signed it or if it is unconscionable. A contract must be enforceable for the parties to be able to enforce it in court.
- In addition to the penalties listed above, the parties to a contract may also be subject to statutory penalties. For example, the New York State General Business Law imposes a penalty of $1,000 for each day that a party fails to comply with a provision of the law.
What’s the solution?
If you are involved in a contract dispute in New York or New Jersey, seeking legal advice as soon as possible is essential. An experienced attorney can help you understand your legal rights and options and can represent you in negotiations or litigation.