A contract dispute occurs when any party in a contract has a disagreement regarding any of the contract terms or definitions. In order for a contract to be valid, there must be a “meeting of the minds.” This means that all parties need to have a solid understanding of every contract term, and must be in mutual agreement as to the terms. Without a mutual agreement, the contract is not legally valid and may be contested in court.
In contract law, a contract dispute is usually considered a breach of contract, meaning that a party failed to perform a duty or promise that they agreed to in the contract.
A civil judgment is one type of public record that can appear on your credit report. It is a debt you owe through the courts due to a lawsuit. If someone sues you for money and you lose, the judgment against you may appear on your credit report.