Oklahoma City Breach of Contract Lawyer

Contracts are the cornerstone of all successful businesses, as they set forth the terms by which transactions should be handled. Unfortunately, it’s not entirely uncommon for business partners, employees, and other parties to violate these contracts, but with the right attorney, remedies are available. Contact a skilled Oklahoma City breach of contract lawyer from The Jones Firm, PLLC for comprehensive guidance today.

What is a Breach of Contract?

A breach of contract occurs when one party fails to fulfill their obligations as outlined in a legally binding agreement. These breaches can take several forms, depending on the circumstances. The two primary types of breaches are:

• Actual Breach: This occurs when a party fails to perform their duties by the time performance is due, such as refusing to deliver goods or services as promised.
• Anticipatory Breach: This happens when one party communicates or demonstrates, before performance is due, that they will not fulfill their obligations. This allows the non-breaching party to take immediate legal action, even if the breach has not yet occurred.

Both types can have significant financial and legal repercussions, and understanding which type applies to your situation is crucial for pursuing a remedy.

When Do Contract Breaches Happen?

Contract breaches arise in a variety of scenarios, many of which are common in business and employment settings. Some examples are as follows:

• Failure to Deliver Goods or Services: A vendor does not deliver products or services as stipulated in the contract.
• Non-Payment: A client or partner fails to pay for goods or services rendered.
• Violation of Employment Agreements: An employee or employer does not adhere to the terms of a signed contract, such as confidentiality agreements or compensation terms.
• Partnership Disputes: Business partners violate the terms of their partnership agreement, such as by misusing company resources.
• Breach of Warranty: A product does not meet the specifications or guarantees promised in the agreement.

Potential Solutions

When a breach of contract occurs, several potential remedies may be pursued to resolve the issue, depending on the nature and severity of the breach. Some potential remedies are as follows:

• Negotiation: Direct discussions between the parties to reach an amicable resolution without involving the courts.
• Mediation: A neutral third party facilitates discussions and helps the parties come to a mutual agreement.
• Arbitration: A more formal process where an arbitrator makes a binding decision after hearing evidence from both sides.
• Litigation: Filing a lawsuit in court to seek damages or enforce performance of the contract.
• Specific Performance: A court order requiring the breaching party to fulfill their contractual obligations.
• Monetary Damages: Compensation for financial losses caused by the breach. This can include compensatory damages, consequential damages, and, in some cases, punitive damages.
• Rescission: The contract is canceled, and both parties are released from their obligations.
• Reformation: The court modifies the terms of the contract to better reflect the parties’ intentions.

How Long Do I Have to File a Contact Dispute in Oklahoma?

In Oklahoma, the timeframe to file a breach of contract claim depends on whether the agreement was written or oral:

• Written Contracts: The statute of limitations is five years from the date the breach occurred.
• Oral Contracts: The statute of limitations is three years from the date of the breach.

Failing to act within these timeframes can bar you from pursuing legal remedies, so it’s crucial to consult an attorney as soon as possible to protect your rights. Certain factors, such as ongoing negotiations or fraudulent behavior, may impact these deadlines, so an experienced lawyer can help you determine the appropriate timeline in your case.

Contact an OKC Breach of Contract Lawyer Today

Don’t face a breach of contract, or any other contract dispute, without a competent lawyer in your corner. The Jones Firm, PLLC has extensive experience representing clients facing all types of contract disputes, and we stand ready to put that experience to work for you in your case. Contact us today so we can get started.