A contract is a lawful agreement entered into voluntarily by two or more competent parties. Contracts may be made orally or by conduct, but obtaining written proof of a contract is the best way to attain remedy if a breach of contract later occurs.
A breach of contract, or, the failure to perform as stated in the contract, will result in the award of "damages", which are typically monetary, but can also include “specific performance,” which refers to actions that the losing party needs to take.
Parties who wish to enter into a contract should be aware of the obligations that each party has. The business law attorneys at Tuohy Minor Kruse can help you draft proper agreements, negotiate terms, or review contracts drafted by another attorney. Our attorneys possess the experience and knowledge to help your business achieve the most efficient and protective agreements for your specific needs.