A Guide to Contract Disputes

Both individuals and companies form contracts daily. A contract is defined as a binding promise made between two or more entities or persons in the form of an agreement whether to exchange services, goods or anything else. It can be made verbally or in a written agreement. In order to be legally enforceable, a contract must have three major elements - offer, acceptance, and consideration.

Disputes in contracts occur when one party failed to fulfill their promise and breaches the terms of the contract. Disputes can also arise when the parties involved in the agreement understand the terms in a different manner. Thus, breach of contract happens, causing one party harm or damages. This is where a contract disputes lawyer in Toronto comes in and helps with the settlement of the contract. This legal professional can either argue or defend your legal stance in the court of law.

Types of Breach of Contract

Breaches to a contract may arise in various ways and so there are many different types of breaches. If a party to the agreement failed to perform their part of the contract, it is a material breach of contract. But if the party failed to complete the performance of their part or obligation as called for by the contract, it is only a partial breach of contract.

In cases where a party had failed to fulfill their responsibilities stated in the contract that made it impossible to deliver or deprived the other party of getting the benefits from the contract, this is called a fundamental breach of contract. Conversely, if one party claims that they cannot perform their obligations in the contract by a certain date, it’s referred to as an anticipatory breach of contract.

A contract disputes lawyer in Toronto can help you with various aspects of contract disputes. These include contracts for goods and services, purchase and sale agreements, lease contracts, franchise agreements, employee-employer contracts, and so on. These lawyers know how you could win over any claims due to a breach of contract.