Chicago Commercial Contract Dispute Attorneys

Different Types of Commercial Contracts

Commercial contracts form the backbone of business operations, laying out the rights and obligations of all parties involved. If there is an issue or discrepancy with a contract, it can lead to big problems for your company if you don’t react correctly. Our Chicago contract dispute lawyers understand that there is no such thing as a “small” or “unimportant” contract when running a business, so we devote our full effort and resources to every case we take.

Our team can work on commercial contract disputes involving the following contract types and more:

• Sales agreements
• Partnership agreements
• Employment contracts
• Confidentiality and non-disclosure agreements
• Lease agreements
• Service contracts
• Vendor and supplier agreements

Ways Commercial Contracts are Breached

A contract breach occurs when one or more parties fail to fulfill their obligations as outlined under the contract, especially when that failure causes harm to another party. Breaches are unfortunately common in business dealings and can lead to significant financial and reputational damage to your company and brand. That’s why it is important to seek the counsel of an experienced contract dispute attorney like those at Hilliard Law if another party has violated the terms of one of your contracts. You can also ask us for counsel if you have been accused of breaching a contract and need to defend yourself and your company.

Some common ways commercial contracts are breached include:

• Failure to deliver goods or services as promised
• Non-payment or late payment
• Violation of confidentiality or noncompete clauses
• Failure to meet performance standards
• Failure to adhere to contract terms or deadlines

Illinois Breach of Contract Statute of Limitations

Under Illinois law, the timeframe to file a lawsuit for breach of contract depends on whether the agreement was written or oral. For unwritten contracts, the statute of limitations is usually 5 years. For written contracts, you could have up to 10 years to bring a claim.

However, it is not recommended that you wait until the statute of limitations is almost over to take legal action. As soon as you suspect that a contract has been breached, possibly unlawfully so, fill out an online contact form from Hilliard Law in Chicago. We may have much better access to useful information on the breach if we can start on your case sooner rather than later, especially if you suspect that the other party will try to hide evidence of their corporate wrongdoing.

Representation for Other Commercial Contract Disputes

Breaches of contracts are possibly the most common reason why two companies end up in court for commercial contract disputes. There are many other reasons and sources of conflict, though. At Hilliard Law, we have the skill, experience, and resources to work on many different types of contract dispute cases.

Examples of the types of commercial contract disputes we handle include:

• Unconscionable contract terms: Unconscionable terms are those that are so one-sided they unfairly benefit one party at the expense of another, such as excessive penalties, unusually restrictive conditions, or clauses that exploit power imbalances. We help clients identify and dispute such provisions to promote fairness and equity in contractual relationships.
• Fraudulent inducement in contracts: Fraudulent inducement happens when one party uses deceit or false representations to persuade another to sign a contract. For instance, this tactic may involve presenting false information about the financial health of a company, misrepresenting the quality of goods, or making false promises that were never intended to be fulfilled.
• Business fraud in contractual agreements: Fraud within a contract can take many forms, including falsified documentation, deliberate misrepresentation of facts, or hiding critical information during negotiations.
• Fraudulent transfers to avoid obligations: Fraudulent transfers occur when one party improperly transfers assets to another person or entity, often to evade contractual duties or financial obligations. This process might involve hiding money, transferring property to family members, or shell companies being used to shield assets.
• Overly restrictive non-compete or non-solicitation clauses: While restrictive contracts can be enforceable under the right circumstances, overly broad or unreasonable clauses can unjustly stifle competition and employee rights. We can help businesses revise or challenge these provisions to prevent undue restrictions.
• Invalid contractual penalty clauses: Some contracts include penalty clauses that impose exorbitant fines or fees for noncompliance. When these clauses are determined to be unlawful or unreasonable, we can try to renegotiate or void them, whichever would be best to protect your business's financial stability.