Contracts form the bedrock of many business relationships in New York. Vendors, suppliers, subcontractors—there is a different type of contract for any given relationship. Unfortunately, sometimes even the most carefully crafted contract isn’t enough to prevent disputes between the parties. If you and your company are facing a potential legal matter regarding a contract, just what type of contract dispute do you need to address?
There is no doubt that contract disputes can become quite complex in a hurry. The very nature of many types of business contracts is to try to anticipate many of the potential situations and disputes that may ultimately arise—and how to address them. But, if there is a dispute, there may be a difference in interpretation between the parties. You may think the contract language is clear, for example, while the other side may think there are ambiguities.
Employment contracts, intellectual property issues, lease agreements, service contracts—these are just some of the types of contracts that might be subject to a breach of contract or other type of contract dispute. Simply put, if there is a contract dispute, it most likely boils down to this: one side is allegedly not doing what it is supposed to be doing.
If you are facing potential litigation over a contract matter, you need to be proactive. These types of legal disputes can bog your business down for months—or longer. It is prudent to come up with a plan as soon as you identify the type of contract dispute you might be facing.