Commercial contract disputes can arise at any time, often when you would least expect it.
Contractual relationships can be plain sailing, the status quo upheld for many years and then something could drastically change; a company might run into financial difficulties, a company might have been taken over and the shakeup in management has affected business relationships.
There are so many different reasons for one party or both parties to want to terminate a contract, the key is ensuring any potential for disputes is kept to a minimum and if that time has already passed, managing the dispute efficiently and expeditiously. Oakwood Solicitors are here to help.
Oakwood Solicitors has numerous corporate and commercial clients who encounter a contract dispute at least once within their business’s lifetime.
Some common commercial disputes which can arise include:
- Disputes relating to the provision of good or services
- Disputes as to the time when payment is due or whether payment is to be made in installments or on deferred terms
- Disputes relating to the ownership of a company
- Disputes arising out of the sale or purchase of a business
- Disputes relating to the terms of a contract
- Disputes relating to misrepresentation
You may come to sell your business at some point and with selling comes a lot of paperwork and a lot of legal obligations. Oakwood Solicitors can sell businesses and purchase businesses and also deal with any fall out should any arise following a sale/purchase.
When you sell a business, you are obliged to comply with the warranties, indemnities and guarantees given at the time of sale. Neither party knows what is going to happen in the future, all they can do is ensure they are protected should the worst happen.
Should either party fail to comply with the terms of the contract, such as a share purchase agreement, you have the right to sue the other party for breach of contract. In this sense, you have to be very careful as to what you agree to and understand why you are agreeing to it. Oakwood Solicitors can help and advise you on this journey.
Further reading
What is a Contract – Oakwood Solicitors Article
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