Business transactions occur daily in Jacksonville and around the globe. While most of these transactions proceed smoothly and the parties involved are satisfied, what happens when a dispute arises? Most business disputes involve disagreements between two or more persons or companies regarding the terms of a written or verbal agreement, such as a party refusing to pay for goods or services it received. Most business disputes involve monetary claims, but can also involve non-monetary claims, such as injunctions. Business claims may even be equitable in nature, such as when a party fails to pay for good or services it knowingly received and benefitted from.
Business disputes can be complicated. This is because they may be written, verbal, or a combination thereof, and involve large sums of money. For example, if you made an agreement with a supplier to deliver goods and they don’t fulfill their end of the bargain, you may end up incurring substantial losses. But are you entitled to recover your attorneys’ fees? It depends, sometimes upon the terms of a written agreement. In some instances, attorneys’ fees may be recovered pursuant to statutory entitlement. Under Florida law, some types of agreements must be in writing to be enforceable, such as a guaranty, or a lease exceeding one year in duration.
This is why it’s crucial to have a business dispute attorney by your side in Jacksonville. At McCorvey Law and Mediation, we can help you address complex contractual and non-contractual disputes while keeping your best interests in mind.
Types of Business Disputes
Business disputes take on many different forms. Parties to an agreement may have failed to deliver on what they promised, such as payment for goods or services, or repayment of monies loaned.
While most business disputes occur from one business to another, such disagreements may also happen between business partners. There are also those disputes that arise between the company and its customers, or the company and its suppliers.
Some of the most common types of business disputes include:
Contracts may be written or verbal. A written contract is a legally enforceable document signed between two or more parties. A breach of contract in businesses commonly occurs when a supplier fails to deliver goods on time, or when a company fails to pay the supplier for goods delivered.
All specific provisions in the contact should be performed or complied with. If not, the agrieved party can initiate a claim against the breaching party.
Business disputes also arise in cases of underperformance. Underperformance refers to technically meeting the conditions of a contract while falling short of any quality standards that were agreed upon. For example, suppliers who deliver damaged goods to your business may be liable for underperformance.
Many businesses sell goods with an implied warranty, which means that there’s a certain quality expectation for the products sold. Any products that don’t meet these standards, or end up harming the consumer, may result in a dispute.
Business disputes also arise when current or former owners fail to agree on how company assets will be distributed. These disagreements may occur when the business is being terminated, or when debts are being settled using company assets. Owners may fail to agree on equity distribution and other business-related issues.
Why you should seek the services of a Business Dispute Attorney
If you’re planning to take legal action on a business dispute, or a claim has already been filed against you, seeking legal representation is critical. Business disputes can be quite costly, regardless of who initiated legal action. A business dispute attorney in Jacksonville can help you decide on the best approach to resolving such disagreements.
At McCorvey Law and Mediation, we help our clients resolve business disputes in many different ways. When appropriate, we may demand arbitration between you and the other party to resolve the business dispute. Arbitration is an out of court process that may enable you to save on costs during the dispute.
We may also propose mediation so that both parties can negotiate a reasonable settlement. And if necessary, we will support you in pursuing litigation by zealously advocating on your behalf in court. Consult McCorvey Law and Mediation for your business dispute needs today.