Common Commercial Contracts
Commercial Agreements cover a wide range and include:
Agreements for Sale of Business or Business Assets
Agreements For Supply Of Goods/Services
Distributorships or Dealer Agreements
Equipment Hire or Leasing Agreements
Franchise or Licence Agreements
Joint Venture Agreements
Standard Trading Terms and Conditions
What Is A Breach Of Contract?
A contract is a legally enforceable agreement between two or more parties. Each party to a contract makes a promise to another (or others) to perform certain acts, such as to supply certain goods or services or to pay a fee in exchange. If one party fails to perform the contract as promised while the other party has fulfilled all his own duties under the contract, the innocent party is entitled to a legal claim.
Our firm can assist you to enforce your rights under the agreement and have your dispute resolved or determined by the Court.
What Relief Can I Get?
You may be entitled to a rescission of the contract i.e. to treat the contract as if it had not existed and to be put back to the position before the contract was made. Alternatively, specific performance may be ordered i.e. an order to compel the defaulting party to carry out his part of the contract. If you wish to prevent the defaulting party from carrying out some act to your detriment, an injunction may also be applied for in Court. Lastly, damages or an account of profits wrongfully earned may also be pleaded for in your case in Court.
What is my Time Limit for Filing a Breach of Contract Lawsuit?
Under the Limitation Act, a lawsuit must be filed within 6 years after the breach of contract occurred, unless there are exceptional circumstances. A party seeking a remedy for a breach of contract must file a lawsuit within the time limit or his application will be struck out.
How to avoid contractual disputes?
Prevention is better than cure. The first rule is to always make sure you have a properly written contractual agreement before signing it. This is best done by appointing a solicitor to create a sound contract for parties, or to vet your contract if it has already been prepared by the other party.
The legal costs you spend to have an agreement drawn up by a solicitor will pay off in the long run, and could potentially save you time and money of having to go to Court in case of any ambiguous terms in the contract.
A trained contract law lawyer will be able to identify the potential risks and foresee unlikely scenarios so that it can be addressed in the contract. Disputes can also be avoided if the rights, responsibilities and entitlements of each party are spelt out clearly.
Hoh Law Corporation is experienced in handling a wide variety of contractual disputes and negotiations. Contact us and we will help you to resolve any issues, whichever type of contract your case entails.