Contracts in New Jersey come in a wide variety of different forms. It is imperative for proper business function to identify the proper type of contract for any situation and deploy it correctly. Any contract must follow the law correctly if it is to be regarded as legally binding on either party.
A construction company based in the borough of Wood-Ridge filed a lawsuit in New Jersey on July 7 in an attempt to get the award for a $66 million contract overturned. The plaintiff claims that the winning bidder of the contract doesn't have the electrical subcontractor required to complete the project. The company claims that otherwise, it would have been the lowest bidder for building the new justice center. The project will be the largest in Bergen County history, totaling $147 million.
Negotiating any form of business contract can be a complicated process. The larger the scale of the deal, the more parties may be involved and the harder the matter can be to settle. An added level of difficulty arises if one or more of the parties do not honor their part of the agreement. Having previously faced contract litigation in New Jersey, Fortis Property Group has recently bid on a failing hospital located in New York.
When a contract is formed between parties, it is often assumed that everyone involved will honor their side of the agreement. Unfortunately, this is not always the case. When things don't go according to plan, significant disputes may arise due to perceived breaches of contract. Such a situation arose in New Jersey, where one firm is in an ongoing dispute with the state’s administration over work done in the wake of Hurricane Sandy.
Most of us do it. We wake up, grab a cup of coffee and then head out the door to work. We then work our shift and head home, with the process repeating again the next day. But what happens when going to work isn’t that simple? What if your employer makes changes to your contract without your approval, or alters something that is in your employment contract?
When it comes to avoiding contract disputes, there is an old saying that still holds true: An ounce of prevention is worth a pound of cure. In most cases, significant time and expense can be avoided later if all involved parties originally write a contract with as much clarity as possible. Companies doing business in the consumer arena should pay special attention to the terms of their contracts, as they may be subject to regulatory or legislative measures.
New Jersey based health-care products company Johnson & Johnson is involved in a breach of contract suit. Reports say that the company has sued drug maker Boehringer Ingelheim over a contract dispute. Boehringer makes lung cancer medication and a system of testing genes to determine which medication is most appropriate for a specific patient.
New Jersey readers may be interested to know that Oscar winning actress Octavia Spencer has recently sued a weight loss company for breach of contract. The company, Sensa, sells weight loss products that are sprinkled on people's food to help them feel full faster. According to reports, Sensa and Spencer had an agreement where Spencer agreed to be a company spokeswoman.
While many people in New Jersey may not think that Hollywood stars are involved in complex contracts or contract disputes, many of them are. Actors and actresses not only work on television and movie productions, many of them also own or run businesses that capitalize on their fame. They, too, are business people and from time-to-time disputes arise.
In essence, contracts are a series of promises between the parties to the contract. Each party promises to give something in return for the other party's performance. When one of the promises between the parties is broken a breach of contract has likely occurred.