Contracts help build the foundation of every business. Without contracts, businesses simply wouldn’t be able to run and function smoothly. When a contract dispute arises, it can not only bring business to a screeching halt, but it can also be extremely costly for all parties involved. The experienced contract dispute attorneys at Freeman & Nance have helped scores of clients resolve contract disputes quickly and efficiently. We understand what’s at stake, so we work aggressively and intelligently for our clients.
What Makes A Contract?
People have many misconceptions about what constitutes a valid contract. Under Texas law, for a contract to be valid, six elements must be satisfied: (1) an offer, (2) acceptance in compliance with the offer, (3) a meeting of the minds, (4) each party’s consent to the contract, (5) payment or money transaction, and (6) final agreement on the contract. This might seem highly technical, but what’s important to understand about this definition is that it is actually very broad. The state of Texas has very few stipulations about verbal and informal contracts, meaning individuals and businesses can be held liable for contracts that consisted of little more than a conversation and a handshake.
Although Texas law broadly defines contracts, it is more specific when defining when a breach of contract has occurred. A breach of contract claim requires the presence of four elements: (1) there was a valid contract, (2) the plaintiff took action to uphold their end of the contract, (3) the defendant broke the terms of the contract, and (4) the plaintiff suffered damages as a result of the breach.
Most Common Types of Contract Disputes
While there are a seemingly endless number of types of contracts, a few are much more common than others. At Freeman & Nance, our attorneys handle contract disputes involving, but not limited to:
- Employment Disputes
- Non-Compete Agreements
- Vendor Agreements
- Lease Agreements
- Buy/Sell Agreements
- Insurance Contracts
- Oil and Gas Contracts
The Complexities of Construction Contracts
The construction industry sees frequent contract disputes because of the nature of construction work, which involves many parties (contractors, sub-contractors, sub-sub-contractors). This opens up the possibility for an increased number of contract disputes. However, residential construction and commercial construction disputes are slightly different than other types of contract disputes. Contractors generally use one of four types of construction contracts: fixed price, cost plus, time and materials, and unit pricing. The main differences between these types of contracts are the differing pay schedules, rates, and scope of work to be performed. Additionally, construction contracts disputes can also arise between other subcontractors, suppliers, and third parties.
One a construction contract dispute arises the project often stalls. These disputes can take months or even years to resolve. And, for most projects, this is time builders don’t have. Because of this, it is incredibly important that experienced attorneys who can resolve matters quickly and efficiently handle construction contract disputes.
Experienced Contract Dispute Lawyers
Freeman & Nance understand the pressures a contract dispute puts on a business. We work to pursue creative strategies for resolution that best suit our clients’ needs. Contact us today to see how we can help with your Texas contract dispute.