A Commercial Agreement is a legally binding contract between parties where both are required to do particular activities or refrain from doing something.
They can be found in a variety of business types, including industrial, corporate, and retail.
Commercial agreements can be verbal, in writing, or even implied in a formal or informal matter.
They can cover all aspects of business, including wages, leases, loans, hiring, and employee safety.
To breach a commercial agreement, one of the contracting parties fails to live up to their part of the agreement.