Breach of contract and lawsuits

Breach of contract and lawsuits

Although most people try to avoid lawsuits and prefer not to breach contracts, there are times when people find it necessary to take a contract dispute to court. This article provides a basic overview of the law and remedies for breach of contract. Breach of Contract Where two or more parties have entered into a legally binding contract, a breach occurs where a party fails in some way to carry out his contractual obligation. For…

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Business contracts and the law

Business contracts and the law

Businesses sell goods and services between themselves and they therefore require contracts. Commercial law is often used to refer to the legal principles that govern contracts between businesses. The law of contract is a central element to the formation and construction of commercial contracts; however, a number of commercial transactions are also governed by their own set of rules, which modify general contract law, for example the Sale of Goods Act 1979. You should be…

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Do I have an enforceable contract?

Do I have an enforceable contract?

To answer the question whether a particular contract is enforceable, you need to begin with the basic elements of a contract. Most of the time, if a contract turns out to be unenforceable, its because one of these basic elements is missing or inadequate. This article discusses these basic elements and some enforceability issues that are currently of particular interest where commercial contracts are concerned. The Basics The basic elements of a contract are (i)…

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Making a legally valid business contract

Making a legally valid business contract

If you own a business, you will have to enter into many contracts with vendors, customers and other parties. A business contract is a legally binding agreement between two parties, usually for the provision of goods and services or both. However, in order for a business contract to be legally valid and therefore enforceable in court, certain elements must be present. Can both written and oral contracts be legally valid? Contracts do not have to…

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Sports law, which areas of law does it cover?

Sports law, which areas of law does it cover?

What is sports law? Sports law brings together many different areas of law such as contract law, employment law, intellectual property law and the law of ‘tort’ (or civil wrong). It covers amateur, professional, domestic and international sporting activities and events. When did sports law come to prominence? Sports law is a relatively recent development. With the emergence of athlete-agent relationships and increasing media attention being paid to sport in general over the past 20…

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Top 10 reasons to avoid breaching contract

Top 10 reasons to avoid breaching contract

No doubt you’re aware that you shouldn’t breach a contract, but just to make it clear here’s our list of ten reasons why you really shouldn’t do it: 1. If you breach a contract, you could be liable for damages to compensate the other party. The basic remedy for breach of contract is damages. If you breach a contract, you may have to compensate the other party for the loss they incur as a result…

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What is an invitation to treat in contract law?

What is an invitation to treat in contract law?

The concept of a contract is well known to most people, and not simply those who work in business. It is essential that a contract is legally valid if ever one party involved intends to enforce its terms. What makes a contract? In extremely simple terms, the elements that a court will look for when deciding if a contract is legally binding are an offer, acceptance, the intention to create legal relations, and consideration. An…

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What legal redress can I obtain for breach of contract?

What legal redress can I obtain for breach of contract?

The following are the main types of legal redress available for breach of contract: Negotiation Many parties to contract disputes overlook the simple solution of negotiation with the other party about the breach of contract. There may be all sorts of reasons why the other party breached the contract. It may be that a slight variation in the terms of the contract would resolve the issue so that both parties are able to meet their…

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