Business Contracts

In almost every case of contract litigation, the process of resolved implied or undefined agreements is much, much costlier than utilizing the counsel and guidance of one or more business contract lawyers prior to making any binding agreement. There are different types of contracts that a person should be aware. Though all steps of the contract making process can be performed by those with no legal background, most agencies recommend that a lawyer write the contract and remain involved during negotiations. For the savvy businessperson, the marginal benefits of the small investment in security found through business contract lawyers is far more appealing than potentially enduring a lengthy, not to mention expensive, contract dispute litigation case.

A written contract is legally enforceable document obligating between two parties that mandates certain conditions are met, tasks performed, or transactions occur. A party refusing to uphold their end of the contract is always liable for civil action in the court of law. For business contract disputes, business contract lawyers are a wise investment to either to defend a civil suit claiming breach of contract or to pursue legal claims against parties failing to uphold their agreements in a business contract. There are a limitless number of reasons why one entity would feel another entity violated the terms and agreements of a business contract, however, some prudence should be used when pursuing these claims. First, a business contract lawyer should always review a case for the individual terms and conditions of the business contract and alleged violation itself. Typically, a business lawyer will litigate with the other entity and their legal counsel to negotiate an agreement outside the courts, which will ultimately save both parties innumerable detriments. Some of detrimental side affects that can potentially afflict companies taking their business contract disputes to the court of law include:

  • Courts costs, fines, and fees
  • Exacerbated legal expense fees
  • Countersuits for frivolous legal action, defamation, and other legal claims in the event a civil suit is dismissed
  • Time spent in depositions, making court appearances, partaking in the discovery process, and amidst continued litigation
  • Potential criminal penalties for contempt of court if parties do not follow through with the court-ordered mandates
  • The potential for punitive damages on top of fulfilling the prior contract agreement terms in dispute

 

Generally, contracts are created in three distinct phases. The initial phase includes an offer from one entity to another, which is then followed by a period of consideration or negotiation, which is finalized through an agreement and acceptance of the terms of a business contract. A business contract lawyer should be present prior and especially during when an agreement has been reached, both parties sign the contract, and the contract goes into effect and is henceforth, legally binding.

In the United States, a number of contracts are viewed as legally binding. Typically, in business contract disputers, the courts recognize four various types of contracts as admissible including:

  • A bilateral contract: a mutual exchange of promises among parties.
  • A unilateral contract: one party expects performance, rather than a promise from the other party.
  • An express contract: explicitly written or spoken language
  • An implied contract: the intent to enter into an agreement is clearly shown

 

No matter what type of business contract your company intends to enter into or has already entered into, consulting a business contract lawyer is essential to protect your company’s interests and mitigate the level of liability one exposes their company to overall. Not only can a business contract lawyer assist corporate clientele in garnering the most ideal terms and conditions of any business contract and prepare all legally binding documents, but in addition, a business contract lawyer can defend your company’s contract rights should a business contract disputer arise.

Does your company require the counsel of a business contract lawyer? Contact a business contract lawyer for consummate counsel regarding all breach of contract and writing of contract needs today.

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