breach of contract

Avoiding a Breach of Contract

If you are starting or buying a small business, you should know a thing or two about contracts. A contract is an agreement between two or more parties, creating an obligation for a specific task. Every contract must have parties to it, terms, a commencement date, obligations and repercussions in the event of breach. A contract is formed when one party offers to do something, the second party accepts the offer, and something of value is traded in order to support the promise that was made. Each party that is involved is responsible for fulfilling the terms of the contract.

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Mediation vs Court Proceeding

Many people outside the legal world are unfamiliar with what mediation is and what it entails. It is substantially different from traditional litigation (i.e. going to court) and has an entirely different set of rules and procedures. The main difference is that mediation is driven by the parties in a dispute. This means that, unlike court proceedings that take place according to the schedule of a judge and the courts, medication can be done at a time that is most convenient to all parties. This means that the parties can even mediate before a case is filed. Because mediation is driven by the parties, the process can change to fit the needs of the parties.

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