Contracts are an essential part of life, both from a personal perspective as well as in business. From signing an employment contract, a rental agreement, a supplier agreement, or even making an oral agreement with a business associate, both parties are making a legally binding commitment to perform certain actions or to exchange specific goods. The individuals and businesses specified in the contract are obligated to fulfil the terms they have signed up to. Unfortunately, it is a frequent occurrence for one of the parties involved to fail to deliver on their part of the agreement. Our contract dispute resolution and litigation service combines our unique business model of rapid resolution, pre-settlement compensation, and sheer expertise to deliver our clients the outcome they deserve. If you find yourself on either end of a contract dispute, Grayfords is your to go to firm, we can help you understand your options simply and quickly.
Simply stated, a contract is an agreement that is legally enforceable. A legally binding contract does not have to be written, in some situations, oral contracts are also protected by contract laws. A contract requires two elements: first, all parties concerned must agree on the terms and second, objects or services that have value must be exchanged for other objects or services that have value.