Many Illinois business owners already have some understanding of what a breach of contract is. However, there is more to this often-cited reason for business litigation than just not meeting the obligations in an agreement. Gaining a better understanding of whether a breach actually occurred could help avoid going to court or at least provide the potential for other avenues of dispute resolution.
For instance, is one party expecting the other to fail to meet the obligations outlined in the contract? An Illinois business owner may take the time to discuss any concerns with the other party before a breach actually occurs, which could avoid a confrontation entirely. In addition, anticipating that the other party will not fulfill his or her end of the bargain does not mean that neither party has to follow through.
Perhaps the other party partially breached the contract. Under these circumstances, the injured party must still fulfill its part of the contract until and unless a court says otherwise or the parties come to an agreement. When the worst happens, and the injured party suffers a material breach by the other party, he or she then does not have to fulfill his or her obligations under the contract.
To know what type of breach the other party may have committed, some investigation may be in order. A thorough review of the situation will probably reveal the appropriate course of action. Business litigation may need to occur, but it may also not be the only option. The parties could resolve their dispute through other means that do not require them to spend the time, money and effort of a lawsuit.
