Contract Law and Disputes
Contracts are legal binding agreements and can take the form of many different documents including but not limited to, a contract for the sale or purchase of property, a lease, a loan agreement, or a service contract. While there are of course several factors to consider when forming a contract, the basic elements include an offer made and accepted, an intention to create legal relations, and consideration.
It is important to understand that the obligations you agree to by entering into a contract are both legally binding, and enforceable. When a party fails to complete their obligations under a contract, a breach occurs. Generally, a contract will specify exactly what must happen should a breach occur, which usually involves some kind of dispute resolution process. If dispute resolution is not successful, and depending on what kind of breach has occurred, the wronged party may be able to bring a claim for damages.
A contract should never be entered into lightly and it is always advisable to seek independent legal advice. Our expert team at Cornerstone Law Offices are highly experienced in dissecting and advising on the key components of contracts and should a breach occur, and dispute arise, we can help you understand your rights, and how best proceed in order to protect your interests.
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