Conflict is a common part of doing business. No matter the nature of your business, it is possible that you will at some point find yourself facing a dispute or disagreement over a contract. Any type of legal dispute is a threat to the financial well-being of your California business, and it is beneficial for you to work on a way to resolve these issues in a timely manner.
When the terms of a contract come into question or the other party does not adhere to his or her obligations according to the contact, you may be unsure of what you should do next. Business-related contract disputes are complex, but you do not have to navigate these concerns on your own.
What happens now?
When you learn that a party is not holding to his or her end of a contracted deal or that the other party is disputing the terms of a contract, it can be a significant drain on your financial resources, as well as your time and effort. There is no time to lose in figuring out how you can resolve the issue at hand and put it behind you.
After the breach of a contract, you may seek to contact the other party and determine if there is a way to settle this matter informally and simply. If this is not possible or your attempts to resolve this issue do not work, you can take certain steps to recover financial losses and seek a reasonable form of recovery. Through a lawsuit, you may have grounds to a remedy in the following ways:
- Financial damages
- Cancellation of the contract and restitution
- Specific performance
The financial damages to which you could have a rightful claim may include compensatory damages, punitive damages, nominal damages and liquidated damages. Your options will be contingent upon the specific details of your individual case and the terms of the contract currently disputed.
Fighting to protect your business interests
Contracts are one of the foundational tools that you can use to protect your business. When the other party violates the terms or refuses to comply, this is a direct threat to your current operations and your long-term stability. The enforcement of a contract is crucial to your success, but fighting this battle is not something you have to do on your own.
Fight for the best interests of your business by wasting no time in resolving these issues quickly and effectively. If you are unsure of how to proceed, you may find it beneficial to first seek a full understanding of your rights and legal options.