Breach of Contract Cases Within the Construction Industry and the Benefits of Alternate Dispute Resolution
Are you curious when to hire a commercial real estate attorney? While there are a variety of situations that may call for you to hire a commercial real estate attorney, breaches of contract are common. Are you considering whether or not to file a breach of contract against another company? Or, has a company informed you that they are planning to file a breach of contract against your company? If either situation applies, it would be a good time to contact a commercial real estate attorney for a consultation. In addition to providing you with information on your rights and responsibilities under the law, you may also benefit from additional legal counsel and representation.
If your company or project is located in Texas, for example, were you aware that you need to file this type of claim within four years? The exception to this law, however, would be if the contract specifies a two-year time frame.
According to the Bureau of Justice Statistics, the first national study of civil bench and jury trials found that 33% of the civil cases that were filed in state courts were for breach of contract cases. When civil trials such as breach of contracts are filed in state courts, a 2005 received showed that plaintiffs won bench trials 68% of the time. When these cases were heard before a jury, plaintiffs won 54% of the time.
As indicated by the American Arbitration Association. alternate dispute resolution is actually the preferred method of conflict resolution within the construction industry, One of the reasons for this is that when this method is utilized, it takes considerably less time to resolve most of these cases. The median time frame for construction arbitration cases was only 232 days, which is considerably less than for jury and other types of trials.
It’s also interesting to note that there were a large number of cases successfully handled in this manner during 2015. According to the American Arbitration Association, they administrated 561 construction industry cases within that year with claims totaling $500,000 or more. The largest mediated case was for $2.6 billion, and the largest arbitration case was for $96 million. When considering the total value of all the claims and counterclaims within that year, it amounted to $5.5 billion.
Whether a case is handled by a single arbitrator or a panel of arbitrators, these cases tend to be resolved. The American Arbitration Association reported that the largest case resolved by a single arbitrator during 2015 was for $232 million. A panel of three arbitrators handled the smallest case within that year which was for $23,000.
When you contact a commercial real estate law firm to consult with an attorney, you will have the opportunity to discuss your situation in detail. It may be possible that your commercial real estate attorney will recommend alternate dispute resolution to resolve a breach of contract or similar type of legal situation. In the event that your case does go to a bench or jury trial, you may also want to inquire about the appeal process. Given this, if you’re still unclear as to whether or not you need an attorney, the best course of action is to schedule a consultation in order to determine if this is the case.