Contract-DisputesContract disputes are a central component of nearly all business disputes.  Individuals, professionals and businesses often enter contractual relations with the best intentions, but no matter what the intentions, these business agreements can end up going south and often result in litigation. When contracts between businesses and/or individuals go south, it is usually due to one or both parties’ breaking or breaching the contract.

A party can breach a contract in a number of ways. Generally, a breach of contract occurs when one party fails to perform on time, does not perform in accordance with the terms of the business agreement, or does not perform at all. For example, failure to deliver goods or perform services, failure to pay for goods or services, failure to pay a promissory note or debt and failure to comply with employment agreements and/or restrictive covenants are among some of the other common reasons that give rise to breach of contract claims. Oftentimes breach of contract claims arise due to a disagreement in interpretation of the terms of the contract. Other times the contractual claims can be due to unilateral or mutual mistakes.

An individual, professional or business can breach a contract in a number of ways. Generally, a breach of contract occurs when one party fails to perform on time, does not perform in accordance with the terms of the agreement, or does not perform at all. Our Chicago corporate lawyers handle a broad range of contract disputes, which may be settled or litigated in the courtroom.
When a breach of contract occurs, or when a breach of contract is alleged, one or both of the parties might seek to have the business agreement enforced on its terms, or might attempt to recover for damages caused by the breach. The most common remedies for breach of contract are (1) damages, (2) specific performance and (3) restitution or cancellation.

A plaintiff in a breach of contract action must be mindful that time limitations apply to the filing of breach of contract actions. These limitations are different depending on whether the contract is oral or in writing.