Given that contracts play an essential part in most of our daily lives it is perhaps understandable that from time to time contractual disputes can arise. The circumstances of such disputes can be many and varied. Common examples of contract disputes include, in respect of:
- Employment agreements,
- Finance and loan agreements;
- Agreements dealing with the purchase or sale of property;
- Shareholder agreements;
- Contractor agreements; and
- Agreements for the supply of goods or services.
Generally, these types of matters involve disputes over the breach of particular terms within a contract or the operation or meaning of particular terms within a contract. When considering these types of disputes, it is important that due consideration is given to the facts of the matter and the application of the relevant law in order to determine each party’s position under the contract to determine relevant causes of action and/ or prospective liability or exposure.
It is prudent for a party involved in a contract dispute to receive legal advice concerning their legal standing and how best to proceed strategically. There is a range of dispute resolution mechanisms that are commonly utilised to resolve contractual disputes, in particular:
- Mediation/ Arbitration; or
- Formal Court Proceedings (litigation).
The team at Forge Legal is experienced in advising parties concerning contract disputes. If you are involved in a contractual dispute and require assistance or advice, contact our Contracts team sooner rather than later as strict time limits may apply to your particular scenario.