Philadelphia Contract Dispute Lawyer
Contracts are more than promises. When you form a contract, you expect the other side to follow through, and you can sue if they don’t. Contracts are the foundation of any business, and companies use them with employees, vendors, clients, and service providers. Ellenberg Law Group has helped many people involved in both sides of a contract dispute. Whether you hope to sue someone for failing to follow through, or are fighting off accusations you breached the agreement, you would benefit from our services. Speak with a Philadelphia contract dispute lawyer today.
Common Contract Disputes
Business contract disputes often stem from:
- Some contract terms are vague, and each side might have radically different interpretations of what is required. Vague contract terms can lead to disputes and expensive litigation. A properly drafted contract could have avoided the dispute in the first place, but once you sign the agreement, it’s the words on the page which matter.
- Fluctuating prices. A contract might have made sense for each side when they formed it. However, changing circumstances leads one side to try and get out of it. For example, a company might agree to sell oil at $5 a gallon. If the price suddenly jumps to $7 a gallon, they might break their current contracts.
- Supply chain disruptions. Disruptions and slowdowns make it difficult to source necessary materials or services, forcing a breach of a contract.
- Business overextension. A business might take on too many clients and be unable to perform all their contracts.
- Employment disputes. You might want to terminate an employee or prevent a former employee from working with a competitor.
Not all disputes need to end up in court. Sometimes, we can negotiate a more favorable resolution, including the payment of compensation. Many contracts have mandatory mediation or arbitration provisions, and we know how to enforce them or try to get out of them.
There are many remedies for a breach of contract, including:
- The side that broke the contract will pay monetary compensation to the other side to make up for their losses.
- Liquidated damages. This is an amount determined in the contract that the breaching party must pay.
- A judge can invalidate a contract so that neither side needs to perform.
- Foreclosure on collateral. A loan might be secured, which gives the nonbreaching party the right to seize collateral acting as security.
- Specific performance. In rare cases, you might ask a judge to force the other side to perform its obligations under the contract. This only happens in limited situations, where money damages or another remedy would be inadequate.
Contract disputes can quickly get out of hand, costing both sides millions of dollars. Work with an experienced attorney who knows how to resolve a dispute in an efficient way.
Contact Ellenberg Law Group Today
Our business litigation lawyers realize that some contract disputes are unavoidable. We put our experience to work for our clients and always seek to limit the financial and reputational damage suffered. To find out more, call one of our Philadelphia contract dispute lawyers today to schedule a meeting.