Contract Disputes FAQ
The framework of almost any business deal is contained within a contract. Contracts are meant to spell out the responsibilities and obligations of each party to a deal. Of course, contract disputes may arise due to the terms of a given contract or its validity. The lawyers at Korshak & Associates, in Orlando, assist individuals and businesses with resolving contract disputes – including through litigation, if necessary.
Every contract is different and so too are the circumstances of every contract dispute. However, many clients have some general questions regarding contract disputes. Here are some of those frequently asked questions in the form of an Orlando contract disputes FAQ:
What is a contract dispute?
A contract dispute occurs when one of the parties included in a contract has an issue or disagreement with the terms of the contract. Many contract disputes involve a breach of contract, which is the violation of the terms of the contract.
How are different types of contract disputes handled?
Contract disputes can be handled through a variety of avenues of resolution. A contract dispute can be handled through:
- Mediation: Both parties meet with a third-party neutral mediator, outside of the courtroom, who negotiates between the two sides to reach a conclusion workable for both parties.
- Arbitration: Both parties present their cases to an arbitrator, who acts in a judicial capacity, and makes a decision based upon review of the evidence. Arbitration, like mediation, is conducted out of court.
- Litigation: If no resolution can be found out of court, the case would progress to full courtroom litigation. Each side presents their case to a judge or judge and jury, and a decision is rendered upon review of all of the case materials presented.
I end up involved in a lot of contract disputes. How can I avoid them in the future?
In many cases, an ounce of prevention is worth a pound of cure. Making sure that your contracts are properly vetted by experienced business law attorneys before they are signed and go into effect is perhaps the best way to prevent problems from happening later on. Korshak & Associates not only helps businesses involved in existing contract disputes but also works with our clients to avoid them entirely by carefully reviewing and revising relevant documents before they are finalized.
If I’m accused of failing to live up to a contract, what could the consequences be?
Aside from the potential financial burden in terms of monetary damages or performing additional work in order to resolve a dispute, the reputation of your business is at stake if you have a judgment go against you. Your business could suffer the loss of future customers if they think you aren’t serious about keeping your word.