Business disputes or contract disputes can arise in Santa Fe for a wide variety of reasons, from employment claims to disputes between partners. Many business disputes are also contract disputes, meaning that the parties are in disagreement about the terms of a contract—how to fulfill it, or whether to fulfill it at all. Contract disputes can be extremely costly and time-consuming, sometimes resulting in lengthy litigation over a period of months or even years. If you can, it is best to avoid a contract dispute in the first place by working with an experienced lawyer to draft a clear and enforceable contract. Yet there are also other ways you may be able to prevent a contract dispute. The following are tips for avoiding contract disputes in your New Mexico business.
Keep All Documentation Related to the Contract
When you enter into a contract designed to be valid and enforceable under New Mexico law, it is extremely important to retain all documentation related to the contract discussions, including a signed copy of the contract. When contract disputes arise, it can be a difficult and time-intensive process to locate evidence related to the parties’ agreement. By keeping all of these materials, you can begin working with your New Mexico contract dispute lawyer to file a breach of contract claim against the breaching party if necessary. Yet even before any litigation begins, you may be able to work with your attorney to require the breaching party to uphold his or her part of the agreement based on the existing documentation.
Clearly Identify All Parties to the Contract and Their Responsibilities
Ensure that the contract clearly identifies all parties, as well as their responsibilities according to the terms of the contract. The scope of each party’s duties should be clear so that certain actions taken later are not misunderstood—one party might think they are performing while the other party believes a breach of contract has occurred.
Provide Specific Details About Timelines
Any agreement should have a specific timeframe, and a timeline should be detailed in the contract clearly.
Clarify How Terms Can be Modified
Contracts should always make clear how, when, and whether any of the terms can be modified. Every contract should provide specific information about making changes to any aspect of the contract, and whether such modifications are permitted.
Work With a Lawyer to Draft and Review All Contracts
The best way to avoid a contract dispute in the future is to work with an experienced attorney from the early stages of drafting a contract, through reviewing and signing any contract.
Contact Our Santa Fe Business Dispute Lawyers Today
Whether you are in the process of hiring new employees or working with a new vendor and want to avoid a contract dispute in the future, or if a party has breached an existing contract and you need assistance filing a claim, one of our experienced Santa Fe business litigation attorneys can speak with you today. We serve businesses in a wide variety of disputes. Contact Slate Stern Law to learn more about the services we provide to business owners in and around Santa Fe.