Types of Contracts
Even the most meticulous comb over documentation cannot prevent disputes. Some of the most common contracts and the issues that could potentially arise with them are:
Services Contract – One party contracts another to provide a service (painting a house, installing flooring, etc.) within a stated period of time. Usually, these types of contracts specify what the responsibilities of the service provider are as well as what the payment plan will consist of. Delays, quality issues, and nonpayment are common issues that can lead to disputes.
Buy-Sell Contracts – Buy-sell agreements determine how a business and its resources are transferred when a new owner acquires it. These types of contracts can become the focus of lawsuits when a business has multiple owners. There may be a dispute, for example, over who controls a business, how proceeds of a sale will be allocated, or other related issues.
Employment Contracts – Formal employment contracts help employers and employees understand their responsibilities to each other. Many cases involve an employee who was wrongfully terminated or terminated early and is now seeking the compensation they are owed.
Franchise Contracts – The contracts involved when you purchase a franchise from a large company can be extensive. These contracts can be challenging to dispute because, many times, franchise agreements have dispute resolution provisions limiting liability. For this reason, it is important to have a knowledgeable attorney on your side.
Consult with an Attorney
Both individuals and businesses experience contract disputes and breaches of contract. Whether you are a service provider, business owner, employee, or commercial tenant, you have the right to file a claim when another professional or business has broken your contract. The team at the Law Offices of Steven D. Turnage can aid you in your pursuit of contract litigation. If you are in need of a business law attorney, please contact us.
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