Tekell & Tekell, L.L.P.
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Closing the breach in a business gap

When you and your partners first decided to go into business together, you were likely excited and nervous at the same time. As a business owner, you typically have a lot more obligation and responsibility within your company than you might if you were merely an employee. As you and your partners worked out your business plan, designing a structure, employee base, details regarding production, marketing, sales, payroll, etc., you may have run into several obstacles when differences of opinion arose.

Chances are, you were able to discuss the matters at hand and work through your challenges until that glorious day finally came when you opened your doors to the public. Now that some time has passed (be it several months, years or decades) you may be quite satisfied with the way things are going or you may be facing your most difficult problem yet. Either way, a key factor in continued success is that every business partner fulfills his or her commitments to the company as per your written agreement.

What to do if a contract dispute occurs

If your current business progress has been stalled by a contract dispute, you may be worried that it will negatively affect your bottom line. After all, you didn't come this far to lose it all simply because a few tempers are flaring or an issue has arisen that you're having trouble resolving. The following key facts regarding contract disputes may be just what you need to help you achieve your business-related goals:

  • Any time two or more people sign a valid contract, a breach occurs if any party fails to adhere to its terms.
  • Most validly signed contracts are legally enforceable.
  • If a breach of contract inflicts economic harm, recovery of losses may be sought in a civil court.
  • Arbitration and other alternative dispute resolution methods are often used when those involved want to try to resolve a particular issue outside a courtroom.
  • Various dispute remedies may be available, depending on the situation; these may include, but are limited to, the following: restitution, cancellation of agreement, damages and/or mandated performance.

Where damages are concerned, you may need to determine which options would suit your particular needs and ultimate dispute resolution goals. Damages may be punitive, compensatory, nominal or liquidated. Such terms can be confusing for the average person to understand, which is why many Texas business owners rely on experienced guidance when navigating the dispute resolution process.

Most business and commercial law attorneys are also highly skilled negotiators who can act on behalf of a concerned business owner to help seek a swift and satisfactory outcome to any contract-related problem.

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Tekell & Tekell
400 Austin Avenue
Suite 1000
Waco, TX 76701

Toll Free: 877-296-7498
Toll Free: 877-283-5355
Phone: 254-523-4624
Phone: 254-776-5095
Fax: 254-776-5091
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