When you find yourself or your business squeezed by a contract, plenty of “helpful” people will suggest clever, questionable methods of getting out of the contract. They may regurgitate the plot of a movie or novel. They may have a “friend of a friend who knows somebody.” Ignore them. Turn to contract lawyers with years of experience in helping other clients through the same circumstances in which you now find yourself: needing to abrogate a contract.
Legally Binding The word “bind” is interesting, and only when you find yourself in a bind do you realize how tightly a legally binding agreement can hold you. Contract lawyers know how to examine, dissect and disarm the legal contract you need to be abrogated. A contract has specific parts, and together they form a legally enforceable document:
Prior Agreement Ideally, a contract can end by prior agreement, when all parties agreed to a reasonable, legal method of termination. Written notice from one party to another, fulfillment of performance, and crystal-clear language can ensure a smooth end to any contract. Your contract lawyers may advise you to place such a prior agreement clause in all your company’s contract to minimize the chance of misinterpreting any wording elsewhere. Impossibility to Perform A common weakness in a contract is performance. One party agrees to do a specific task in return for remuneration by the other party. Suppose you sign a contract to organize and conduct a public celebration for a local dignitary. The dignitary dies before the agreed-upon date; no celebration is appropriate. You cannot perform your task, so the contract can be set aside as an impossibility to perform. Material Breach A material breach of contract occurs when one party either does or does not do something:
Fraud or Misrepresentation Good business lawyers can also act as detectives, in that they can search for any sign of impropriety by the other party or parties in the contract. While you would like to assume all businesses behave ethically, you should be aware that deliberate fraud or misrepresentation by the other party in the contract is reason enough to abrogate the agreement. A jointly agreeable method of abrogating a contract, when both parties erred, is called mutual rescission. Here you and the other contracted parties agree everyone made a mistake, the contract was flawed, and the whole mess is tidily dispatched by contract lawyers.
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