Parties and businesses facing contract disputes may wish to immediately ensure that their rights in the dispute are protected.
A construction company is suing the owner's of a franchise restaurant in Louisiana for non-payment of work completed on the restaurant's building. The company filing the lawsuit alleges that it was subcontracted to perform work on the project and that its two subcontracts equaled $142,697. It claims it has only been paid $83,059.15. The franchise restaurant is accused of breach of contract; the construction company is seeking damages of $53,318.10 and a five percent retainage.
No one wants a contractual relationship to go awry, however, sometimes contract disputes arise. When a contract dispute arises, it can lead to litigation if one or both parties want to see the terms of the contract enforced or one of both of the parties seek to pursue any financial harm the party alleges resulted from the alleged breach of the contract.
There are many types of business contracts used in the course of commerce, including contracts for builders, real estate contracts, construction management contracts and development contracts and all have the potential to lead to contract disputes. The breach of a contract can cause significant financial injury to a company or other party to the transaction that is harmed.
A trained business and real estate attorney can protect a business facing a contract dispute. Likewise, businesses seeking to avoid disputes before any take place can benefit from legal representation that will aid with both effective negotiation and drafting of any contract.
Source: The Louisiana Record, "Buffalo Wild Wings sued by construction company for alleged non-payment," Kyle Barnett, Nov. 14, 2013