The contract is the foundation of the business deal.

Contracts also provide perhaps the largest source of business litigation. The firm has successfully brought suit to enforce contracts and successfully defended its clients against breach of contract lawsuits and litigated  these cases in both the federal and state courts. The Shrayer Law Firm has also successfully arbitrated and mediated many contractual disputes. Although the firm is tenacious in pursuit of its clients’ interests during litigation, it is equally as focused on finding a satisfactory way to resolve the contractual dispute in an efficient and cost effective manner.

The first step is analyzing whether a valid contract exists is when was there an offer and an acceptance. Often oral contracts are legally binding —  if you can show that both parties took acts in reliance of the words and deeds of another and that the parties intended to enter into an agreement. However, it is always better to have an agreement memorialized in writing and legally sufficient consideration tendered for goods or services. Under a legal doctrine known as the Statute of Frauds, certain contracts must be in writing, such as real estate transactions.

It is important to analyze whether there was fraud or misrepresentation in the formation of a contract. Punitive damages are an available remedy in that instance and are waived if not properly pled by the plaintiff. Therefore, it is important to ensure that all your possible remedies are stated with specificity from the onset.