Business partnerships, while being the lifeblood of capitalism, don’t always go as smoothly as we like. Each party that enters into a partnership agreement, while working towards a mutually beneficial relationship, also has its own interests to protect. When these interests come into conflict with one another, complicated disputes often arise. When this happens, and disagreements threaten the partnership’s ability to benefit both sides, there is often a need for assistance from dispute resolution lawyers to navigate to an outcome that suits both sides.
There are a number of disputes that business partners can find themselves in, here are some of the most common ones:
Breaches of Contract
Business partnerships agreed to according to a contract place a certain amount of responsibility on each party to meet the expectations of the other.
This means that each side enters into a promise with the other to perform certain duties that form the crux of the partnership.
When a contract is in breach, is basically means that one or both sides have failed to meet their obligations, which puts the partnership and each of its parties in danger.
Partnership agreements expect a certain level of trust in each party, in that they will conduct business that falls safely within the bounds of the law and will, in no way, infringe on the rights of others (whether they be the client, supplier or a business partner).
When it is discovered that one side of the partnership has been acting in a way that infringes on human rights or falls outside of the law, it can put the partnership in danger, and worse still, could have one of the parties facing unexpected legal trouble.
Deciding on which party is liable for faulty or dangerous products, especially when not stated in a partnership agreement, can not only pose severe dangers for each side, but can also be incredibly difficult to resolve.
The sharing out of liability is generally decided between active parties according to a contract, but vague terms and oversights can turn this into a partnership-ending dispute, especially where one of the party’s reputations are on the line.
Contact Barnard Inc. for Professional Assistance with Commercial Litigation
There is an entire host of other types of disputes that may arise from a partnership agreement which may threaten the sanctity of the contract. If you would like assistance with any of these, contact one of our dispute resolution attorneys at Barnard Inc. today, or visit our website for additional details.