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Contracts and agreements form the basis for business transactions. Therefore, it is wise to invest the time and cost involved in consulting a Nebraska contracts attorney whenever negotiating, drafting, or reviewing a contract or agreement in order to achieve a successful outcome. The contract attorneys of Berkshire & Burmeister routinely assist individuals and businesses with all matters related to business contracts and agreements including formatting, drafting, alternatives, and interpretation of contracts.
When you enter a contract in Nebraska or Iowa, you are entering a legally binding agreement. A breach of contract can result in costly consequences for you and your company. When reviewing whether a breach of contract occurred, the courts often review three main elements.
First, a legally binding, valid contract must exist between the parties. Our contract lawyers review contracts to ensure they have the required elements of a legally enforceable contract. In most cases, a contract must contain an offer from one party that is accepted by the other party. There must also be proper consideration. Property consideration is the exchange of something of value between the parties, such as money for services or property.
Second, one party must have broken one or more terms of the contract for a breach to occur. However, breaking some terms of the contract might not rise to the level of breach of contract. Typically, the breach must have detracted from the value that the non-breaching party would have received under the contract had the breach not occurred.
Third, the party claiming breach of contract must be able to prove that it sustained damages as a result of the breach. The damages could be an actual financial loss or loss of services, property, or time. A court could rule that the breaching party must pay a monetary award to the non-breaching party for damages. However, the court could also find that the breaching party must complete the terms of the contract.
If you believe the other party to an agreement has breached the contract, you need to take immediate action to protect your legal rights. Gather as much information and documentation you can regarding the contract and the alleged breach, including copies of the contract, amendments to the contract, correspondence between you and the other party, and other evidence of your business relationship with the other party.
Before alleging a breach of contract or taking any further action, it is best to consult with an attorney. Depending on the facts of your case, you may need to take or avoid certain steps. Or there might be action you can take to strengthen or improve your chances of achieving your desired outcome. An attorney reviews the evidence you have, discusses the circumstances around the breach, and analyzes the legal issues and law related to your situation and provides you with options available to meet your goals and needs. After a thorough review of the matter, your attorney can devise a strategy and plan to protect your legal rights and achieve the outcome you desire regarding the business transaction.
At the Law Firm of Berkshire & Burmeister, we understand the importance of using legally enforceable contracts to conduct a variety of business matters. From employment, lease, and partnership agreements to service, purchase, and sales contracts, it is vital that you have legal counsel and guidance when negotiating, drafting, and enforcing contracts and agreements.
Having clear, unambiguous contracts that define the rights, responsibilities, and duties of each party reduces the risk of business disputes and litigation. If you need assistance with business contracts and agreements, contact a business contracts and agreements lawyer near you by calling 402-827-7000.