Breach of Contract
Contracts form the backbone of a business. In order to be successful, you must rely on other individuals and companies to adhere to their agreements. When they fail to do so, suppliers, customers, employees, and executives may all suffer from an interruption to the smooth flow of business. A breach of contract can have severe repercussions for any type of business.
What Is A Contract?
While most people think a contract is a signed legal document that dictates specific terms for two or more parties, the legal definition of a contract is broader. Under Texas law, contracts must only contain two elements: (1) parties involved are in agreement and (2) something of value must be exchanged.
Although contracts can be oral or written, Texas law requires some contracts be written in order to be valid. Some of these include:
- Contracts for the sale of real estate
- A lease for real estate for a term longer than one year
- Wills or trusts
- Sales of securities
Breach of Contract
A breach of contract occurs when an individual or business violates the terms of a valid contract. Breach of contract is one of the most common business disputes because it includes a variety of agreements, such as employment contracts, nondisclosure agreements, noncompetes, real estate contracts, contracts for services, and the purchase and sale of goods, among others.
When a breach of contract occurs, you need to take appropriate steps to protect yourself and your business. If the breach of contract is detrimental to your business, you may be able to obtain damages, but you will need the help of a skilled Houston breach of contract attorney.
Houston Breach of Contract Attorneys
The Houston business lawyers at Adair Myers Stevenson Yagi are courtroom litigators. However, we recognize the fact that once the dispute is resolved, your company and the one that breached the contract may want or need to continue normal business relations. There are times when the harm that would result from a protracted legal battle is greater than the damage caused by a contractual breach. If your dispute can be settled with a letter, arbitration, or mediation, our attorneys can guide you. If litigation becomes necessary, we can make sure your best interests are protected. Whether you are bringing a breach of contract action or need help defending one, we can review the terms of your contract and determine the best strategy. Contact us today to see how we can help.