Contracts are legally binding agreements that set out terms between parties as to what they can expect to give and get throughout the relationship. Contracts come in many shapes and forms, but there are essential elements that each contains, including the provision regarding enforcing it. When a contract is broken by one party or the other, stress can run rampant since it means something is not being done as agreed. When faced with this situation, how difficult is it to enforce the provisions of the contract?
What Is the Breach?
A breach of contract means one party is not holding up its end of the agreement. A violation can happen due to an oversight, in which case the parties can usually negotiate and work together to come to a way to smooth things over. However, a breach can also happen when one party decides not to fulfill an obligation for one reason or another. Perhaps they ran out of money or found a better situation to enter into. Regardless, it is this second example that causes people to disagree when promises get broken.
Is the Process for Accountability Spelled Out?
If your agreement was drafted by a contract lawyer tampa or other professional, there should be a section dealing with how to handle a breach. This may also be called a default section. When personal negotiations between the parties don’t yield any cooperative resolution, the contract is considered to be in default, and the other party may enforce the provisions according to either:
The way the default section spells it out, or
The law in your state governing contract enforceability
Typically, your default section will coincide with your state guidelines, but it may also have more consequences for a defaulting party. Every contract is usually different, so make sure you understand how yours works. Understanding what happens during a default may deter some from committing it.
How Long Will the Process Take?
Once your contract goes into default, your attorney or personal representative will handle the court process that goes along with it. The process can be lengthy depending on the complexity of the contract and the terms and conditions listed therein. Your best bet may be to try and settle the dispute amicably before filing a lawsuit.
When entering into an agreement, make sure you read the entire thing before signing. If you cannot hold up your end of things, you may find yourself in court and shelling out big bucks to rectify the situation.