Contracts are widely used within the course of business.  One party to the contract may fail to perform or breach the contract, leaving the injured party with a breach of contract claim.  It is essential to the protection of each party that the details and specifics of the contract be in writing to minimize confusion. 

Contracts are excellent tools to safeguard businesses.  Most businesspersons enter into contracts far more often than they realize.  Understanding when a contract is formed and when a breach is eminent is essential to professionalism and business protection. Several misconceptions exist about the formation and breach of contracts.  Understanding the basic contract elements will protect you