Businesses enter into contracts with other companies that are intended to clarify what is expected of both parties and provide a legal standing in the event that one business doesn’t perform its part of the bargain. Business contracts may be drawn up between companies that are based in a single state like Florida, or they may be constructed between businesses in different states or even internationally.
Sale of goods contracts
One of the most common types of business contracts that are disputed is those over the sale of goods. These contracts are typically established between the merchant and the supplier. When products are not delivered on time or don’t show up at all, the sale of goods contract is the basis for a legal suit against the supplier.
Businesses that are dealing with sensitive data or cutting-edge innovations may require that the businesses that they work with sign a non-disclosure agreement. This contract helps to protect the sensitive data that could otherwise ruin the company’s edge in the market. When sensitive data is leaked, it’s considered a breach of contract, and the party that leaked the information can be held liable in a court of law.
Many businesses opt for leasing facilities for their operations. This requires the business to enter into a commercial lease agreement with the facility owner. Most agreements are set for a term of 3, 5 or even 10 years. Many times, disputes over commercial leases involve the renter breaching the contract by not paying rent. This is because they believe that the terms of the lease agreement were not being met by the facility owner.
Businesses sign many different contracts throughout their operations. These are intended to help secure their financial well-being and future market stance. However, some businesses don’t hold up their end of the bargain. When this happens, a business law attorney may help address a lawsuit for contract breaches involving commercial leases, sale of goods, non-disclosure agreements or other matters.