Commercial law varies from state to state and can be quite confusing if you have relatively little experience in business litigation. Everything from purchasing real estate to the foreclosure process is governed by certain types of legislation that can feel overwhelming to many. Certainly, when contract breaches are involved, which is a common occurrence in commercial law, each party involved might feel in the right, resulting in more confusion and potential financial burdens. In order to successfully claim breach of contract, the plaintiff in any real estate law case must prove four things: The actual formation of an enforceable contract Proof that the plaintiff performed the designed duties outline in the enforceable contract Proof that the defendant breached a part of the contract Proof that the defendant's breach resulted in some form of actual damages Unless a party understands its contractual and statutory rights, that party will find it difficult to effectively pursue a claim for breach of contract. If you would like to know what contractual and statutory rights you have, please contact the Law Office of Tony M. May, P.C.
Disputes regarding business contracts can be extremely stressful and complicated if you aren't consulting with a professional business lawyer. That's why it's essential that you take advantage of business contract law services throughout the entire process of any contracting agreement. In order to succeed in a breach of contract claim, for instance, you, with the assistance of your business lawyer, will have to prove the existence of four things: an enforceable contract, your performance of the contract, the defendant's breach of the contract, and the actual damages of that breach. Existence of an Enforceable Contract For a business contract to be valid, four additional things will have to be proved: Offer -- This can be an intention to enter a contract pertaining to both (or more) parties. Keep in mind, however, that not all discussions involving future business deals will constitute as offers. Consideration -- This means that each party has agreed to give and receive something of value. A unilateral promise is usually not considered an enforceable contract, and neither are deals based on past services. Acceptance -- This is when the parties involved have clearly agreed to all of the contract's essential terms. It is often difficult to prove acceptance in oral contracts, which is why written agreements are generally preferred. Mutuality -- This means that all parties involved understood and agreed to the basic terms and substance of the contract after an initial meeting or discussion. Your Performance of the Contract You must prove that you held up your end of the deal. In order to prove breach of contract, it's essential that you accomplished each detail and each responsibility that you were accountable for and that you were obligated to perform. [...]
[column width="1/1" last="true" title="" title_type="single" animation="none" implicit="true"] Business contracts are one of the primary issues you will need to address when entering a business project, agreement, or partnership. Although it may seem like a mere formality, the best business owners don't take this matter lightly. No detail is too small when it comes to ensuring the contract will protect your business legally. Discovering there's a major flaw in the contract after signing it can result in you losing precious time, money, and even reputation. This is surely not something you want. So, what can you do to avoid it? To help you answer this question, we've included three common mistakes you should steer clear of in this article. So, keep on reading. 1. Overlooking the Importance of a Written Legal Contract Your business is worth more than a handshake and a verbal agreement. In today's economy, shaking hands on a deal and exchanging promises is not merely enough to protect your business interests. It's necessary to have a written agreement as well. More precisely, you need a mutually agreed upon legal contract based on clear terms and conditions. This way, you can save both time and money and spare yourself a lot of frustration in case the agreement doesn't go as planned. 2. Relying on Ready-Made Business Contracts Why should you hire a professional lawyer when you have the low-cost possibility to use an online legal form? Using a pre-made form you've downloaded off the Internet is not the best decision for a few different reasons. For example: There is a high chance the online form will not include all important details, such as a termination clause or an assignation clause. And if you have little or no knowledge in the field, chances [...]
Getting closer to a transaction makes everyone wonder about business contracts and all the terms they should include. Whether it's a lease, buying products, entering into a service contract, selling a house, or a company, there is one question we usually have on our minds. Do I need a Lawyer to Draft the Contract? And the answer is usually YES. That's why you should talk with an attorney as soon as possible. Request a consultation today, and we can outline a contract to suit your needs. Now let's get into the details of why it's important to hire a lawyer when dealing with these important documents. The Importance of Business Contracts Within any transaction, the most important document is the contract. Some transactions might seem simpler than others. Here are transactions you should always hire a lawyer to prepare the business contracts for: Working with a Freelancer Maintenance and Clean-up Services Leasing or Selling a Property Purchasing or selling products Entering into service contracts In these situations, the contract is vital to make sure everything works smoothly. If a lawyer drafts the agreement, they will make sure your interests are protected, you will avoid loopholes, and your business will be protected by the law. Protecting Your Interests When a lawyer drafts your business contracts, he will take into consideration your interests. Including sections which protect your Company's Intellectual Property. You can find more of them in this article. A lawyer can also help you specify the terms clearly so there is no discussion when receiving the product or services. Having a clear list of criteria for evaluating the quality of end product specified in the contract will make sure you receive exactly what you want out of the transaction. Avoiding Loopholes If [...]
[column width="1/1" last="true" title="" title_type="single" animation="none" implicit="true"] Litigation may be the only recourse for some business owners, as it often results when someone enters into a contract without fully examining what they are signing. At Tony M. May P.C., we see all types of businesses dealing with a variety of issues stemming from poorly written contracts, to those that signed contracts without actually understanding what they agreed to. If you are in the process of entering into a business contract, here are the top ten things you need to know beforehand to help protect you and your assets: All business contracts should be in writing. Oral agreements can be binding, but they are difficult to enforce in court. A written agreement is less risky and it clearly defines each party’s rights and obligations. Define each party’s rights and obligations. Defining the rights and obligations of both parties eliminates confusion, and makes it easier to plead your case in court as it has been clearly defined in the contract. Use clear language. Use clear language and terminology that you understand, so that you will be able to clearly determine your rights and obligations under the contract. Create short, clear sentences, with numbered paragraph headings to show a reader what is in the contract. Identify each party correctly. The contract should identify the accurate legal names of the parties involved. This is so they can determine their obligations to be performed under the contract, which includes using the full legal names of the corporations and/or LLCs that are parties to the contract. Include clear definitions of rights and obligations. The contract document must include all of the rights and obligations for each party member in the contract. [...]