INDIANA CONTRACT LAW
Contracts are promises that the law will enforce. The law provides remedies if a promise is breached or recognizes the performance of a promise as a duty. Contracts arise when a duty does or may come into existence, because of a promise made by one of the parties. To be legally binding as a contract, a promise must be exchanged for adequate consideration. Adequate consideration is a benefit or detriment which a party receives which reasonably and fairly induces them to make the promise/contract. For example, promises that are purely gifts are not considered enforceable because the personal satisfaction the grantor of the promise may receive from the act of giving is normally not considered adequate consideration. Certain promises that are not considered contracts may, in limited circumstances, be enforced if one party has relied to his detriment on the assurances of the other party.
The basic elements of a contract mutual assent, consideration, capacity to enter into the contract, and legality.
At the Thompson Law Office, we provide contract related service to our clients involving their business or personal affairs, whether the contract is oral or in writing, and is a:
Real Estate Contract
Merger or Acquisition
Sale of Goods
or a Contract for:
Travel & Travel Services
Delivery of Goods, and
other services, or other contracts
When prosecuting cases invloving breach of contract, we will pursue whatever remedies that are possible including seeking: compensatory damages, general damages, consequential damages, liquidated damages, interest, attorney fees, and where appropriate equitable remedies like cease and desist orders, TROs, declaratory relief or specific performance.
In defending your rights on a contract claim, we will not only respond vigorosuly to the complaint filed, but we will also plead your affirmative defenses including: accord and satisfaction, statute of limitations defenses, prpomissory estoppel, equitable estoppel, setoff, mitigation of damages and any other defense available.
If you have a contact issue of any kind, in prepararion, negotiation or litigation, the experienced team at the Thompson Law Office can help you accomplsih your goals. Call our office today for an initial consultation concerning your rights and your needs.