You draft contracts with the best intentions. You expect both parties to honor their commitments. But sometimes, the other side fails to deliver. When this happens, you need to understand what type of breach occurred. This knowledge helps you protect your business and...
Signing a contract should make business operations or transactions predictable. Unfortunately, contract violations are relatively common. Breaches of contract can cause business setbacks and financial hardships. They can damage the working relationship between the two...
A partnership is a business formation owned and operated by two or more individuals or entities. It can come in the form of a general or limited partnership. A general partnership is the most basic form, where all partners share managerial responsibilities and...
When you make a deal with someone, you know that a written contract can help protect your interests – but some people believe that contracts are made to be broken. Generally speaking, when one party breaks a contract, the courts usually resolve the issue by ordering...
As a business owner, contracts are essential since they operate as the framework for agreements and uphold mutual trust and responsibility. However, there are times when one side does not carry out the requirements outlined in the agreement. This is referred to as a...
Sometimes in business things simply fail to work out as expected. If a business partnership is no longer tenable, the only sensible thing you can do is dissolve the partnership so each party can go their separate ways. No matter the reasons, if you decide to sever...
Starting a business requires time, work and effort. You may decide to take on a partner to help ease some of the stress and burden you face. While this can be a smart tactic, not all partnerships work out. While it’s smart to create a partnership agreement that...
Savvy business owners know that utilizing solid contracts is an ideal way to prevent breaches and other business agreement legal issues. Using simple language to detail the terms in a contract leaves little room for misunderstandings and accidental violations. When a...
Owning a business means you will likely have agreements with multiple entities. You may establish contracts with vendors, partners, clients and more. The purpose of the contract is to outline each party’s responsibilities in the business relationship along with...
Three types of construction defects exist. There are workmanship, materials and design ones. These may lead to a structural problem or damage property, potentially injure someone and cause them some financial loss. As the contractor, you must exercise a certain...
