Contracts are the core of every business transaction, partnership, and agreement. Whether your business is dealing with vendors, suppliers, employees, or freelancers, contracts are essential to ensure that your company is protected from liabilities. Unfortunately, business agreements don’t always go as planned, and contracts can be breached.
What Should I Do If a Contract Was Breached?
Businesses create contracts to ensure that certain obligations are fulfilled by the parties who entered the agreement. When one or more parties fail to fulfill their obligations in the contract, they have “breached” the contract. Breach contracts can severely impact a business and its profitability.
For example, suppose you own a manufacturing company that ordered new equipment and machinery, and you and the supplier signed a contract. The contract stated that the supplier would ship the machinery in June, but it’s already December, and the shipment hasn’t arrived. As a result, your business has suffered due to the supplier’s breach of contract.
In this case, you would be able to take legal action against the other party for failing to comply with their contractual obligations. You would either be able to enforce the contract agreements or request that the contract be terminated and seek compensation for your loss. You can enforce contractual agreements or seek compensation by filing a breach of contract claim.
Have an Experienced Business Law Attorney on Your Side
Seeking compensation for a breach of contract can be a long and complex process that shouldn’t be handled alone. Your breached contract has likely already taken a toll on your business. With the help of an experienced attorney, you can ensure that you take the right steps to help your business recover. Our team at Weisberg Law can analyze your situation, review the terms of your contract, and guide you through the process to achieve your desired outcome.
Contact our Philadelphia business law attorneys today at (610) 550-8042 to schedule a consultation!