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Businesses use contracts to govern many transactions and agreements. These documents outline the terms that both parties must comply with. Because there’s often a lot at stake, it’s critical that these documents are crystal clear. Whether the business contract covers...
Several parties can sue your business. This can be your customer, employee, partner, shareholder or supplier. You may even face a lawsuit from another company. If you do, it's crucial to take the appropriate steps to protect your business. Here is what to do as soon...
In business, as in life, circumstances can change unexpectedly. Maybe a global pandemic hit, or perhaps your supplier went out of business. This situation is not just inconvenient; it can lead to serious legal consequences, including breach of contract claims,...
In many cases, a contract breach means that goods or services were never provided. For instance, a general contractor may have hired a roofing company to put a roof on a new build, but the company never shows up and doesn’t complete the project. They have violated...
No business owner wants to take time and money away from their company to go to court. When a competitor or other business acts in a way that violates the law and is harmful to your business, however, you can’t let it stand. Fortunately, there are typically steps you...
A business can be a lot to handle for one person. That’s why many people create business partnerships. There are many benefits to a business partnership, such as sharing liability and expanding client awareness. Business partnerships can last for years. These...
Your company's shareholders are crucial as they essentially own the business. Thus, it helps to be on the same page with them. However, disputes between you and shareholders or among themselves can arise. Several factors can contribute to this, including breach of the...
Despite doing their due diligence before entering an agreement with clients, employees and partners, businesses can find themselves involved in a dispute from time to time. They may accuse you of a breach of contract and subsequently take it further by filing a...
Business professionals who are familiar with litigation know that going to court for a breach of contract or disagreement with an opposing party can be lengthy, costly and inefficient. Many contracts these days include an arbitration clause, which requires the parties...
Binding contracts are a cornerstone of every successful business. They stipulate the goods, services, delivery date, and cost. They also should include various clauses, including what happens if the customer does not pay their bill. Some go a step further in asking...