Contracts & Business Law
A contract is a legally binding agreement between two or more parties that binds them to do or refrain from doing certain acts. Contractual legal relationships could be between people, organizations, businesses, or other parties. Even when a contract is not required, it is usually a good idea to have one, in case of legal disputes or other issues.
When you enter into a contract, you promise to fulfill obligations as detailed in the contract. If you do not meet the terms, then you could be liable for charges for breach of contract.
A contract can be for any kind of transaction, including but not limited to services, transfer of property, sales, or other transactions.
If a contract is incomplete or uncertain, the contract is usually not legally binding, and can be declared void by law. Online contracts are also valid and binding. Due to the evolving nature of the internet, there usually aren’t any clear-cut rules for all contracts and each is evaluated on a per case basis most of the time. E-signature laws make electronic contracts and signatures binding, however, not all the countries accept the scans and copies of the documents. Courts of some of the countries demand original seals, signatures when it comes to proving whether the contract is lawful and valid.
A well-written contract frames a proper business relationship, whereas a poorly written contract may lead to lost income and lawsuits. Many issues need to be addressed when creating a contract and it can be difficult to answer these questions without good legal counsel.
Our advise is that you should never sign a business or employment contract unless you understand all of its terms and conditions. Contract language can be very technical in addition to being difficult to understand. Without representation, a business or individual may agree to a contract that includes unfair or illegal terms. Our offices are able to minimize these risks, review your contracts, and explain their implications.
Usually, many contract disputes can be solved without litigation. Alternative ways of dispute resolution, such as mediation should be considered, and if both parties agree to it, we can work to find a creative and practical way to solve the problem.
Our goal is to create and enforce contracts that build stronger relationships, advance your long-term goals, and protect your business. If you require help understanding or drafting different kinds of contracts in business law, please contact