Subtypes: Agency · Business Broker · Concession & Leasing · Franchise Agreements · Purchase & Sales · Unfair Competition
A commercial contract refers to a legally binding agreement between parties in which they are obligated to do or restrain from doing particular things. Commercial contracts can be written, verbal, or implied in a formal or an informal manner. Commercial contract can include all aspects of a business, such as hiring, wages, leases, loans and employee safety. A dispute of commercial contract takes place when a party claims that another party has failed to live up to the agreements.