Business Law FAQs
May 2012
What are my options as a small business owner if there has been a breach of a business contract?Some breaches might centre on a disagreement of the performance required, or a belief that the terms of the contract were not properly formed. In most cases, contractual disputes can be rectified quite easily. However, if the dispute goes to the heart of the contract, it may be terminated by discharge and you may have a right to sue for damages for any losses that may have been incurred due to the breach. If you believe that a breach has occurred, you may elect to bring the contract to an end, or choose to continue with the contract on the condition that specific performance requirements are fulfilled. Please be aware that if you do decide to terminate a contract, the decision must be communicated clearly to the other party and must be unambiguous. Alternatively, if the performance of the contract is deemed to be impossible, a contract may be discharged automatically.
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