Vendors play an important role in many businesses because they provide critical goods and services. Vendor relationships can have a positive impact on the business when things are good, but they can also have a negative if the relationship with the vendor sours. ...
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Business Law
When is judicial contract rescission beneficial?
There are numerous different ways for the civil courts to address contract disputes. Frustrated individuals and business leaders can request damages from parties in breach of an agreement. They can ask for the courts to issue injunctions or orders of specific...
Top 5 things to know before drafting your business contracts
Business contracts set the foundation for professional relationships and financial obligations. Whether you are hiring staff, engaging vendors or entering partnerships, the quality of your contracts can determine how smoothly operations run. Rushing into contract...
3 clauses that strengthen vendor contracts
Finding a reliable vendor with reasonable prices can help keep a company profitable and can improve its overall reputation. Vendor agreements have a profound impact on business operations. Business owners preparing to sign contracts with new vendors typically want to...
How consumer complaints can affect your business
Consumers share their feedback in many ways, from anonymous reviews to public complaints. It can be nerve-racking when they highlight flaws you didn’t notice. Yet they reveal something more profound about how your business is being experienced in real time. In...
Loopholes during business formation that cause contract breaches
Starting a business is exciting, but the process of forming a company often hides complex legal and administrative steps. Entrepreneurs are usually eager to launch their products or services, sometimes overlooking key details that seem minor at the outset. ...
Contract breaches can lead to litigation
Small businesses use contracts to protect themselves as they work with other businesses. These documents outline the responsibilities of both parties and set the standards for what happens if the contract isn’t followed. When one party doesn’t meet its obligations,...
How do force majeure clauses affect contracts in unforeseen events?
A force majeure clause is a provision in contracts that addresses unforeseen events that prevent a party from fulfilling their obligations. These events are typically beyond the control of the parties involved and may include natural disasters, wars, strikes, or...
Health code violations: What are your options for resolution?
New York enforces strict rules to uphold food safety in restaurants, bars and other food service establishments. That is, the New York City Health Department conducts random inspections of all establishments every year. An “A” grade generally means a place is clean,...
When should business owners consider bankruptcy?
Many business owners face tough financial decisions. While the word “bankruptcy” might sound scary, it actually serves as a legal tool that can either help restructure your business debts or provide an organized way to close operations. Knowing what bankruptcy options...
