Contracts make the business world function efficiently. While these written agreements can clearly spell out expectations and obligations in business dealings, the terms of a contract aren’t always upheld. When this happens, breach of contract lawsuits can crop up. If...
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Business Law
Competence is the cornerstone of a valid contract
When you enter the business world, contracts become a part of your daily landscape. They are the backbone of your interactions with partners, employees, employers and clients. They are more than just promises you make to each other. A contract solidifies a deal...
3 crucial mistakes to avoid in partnership dissolution
Business partnerships are built on trust, collaboration and collective expertise. As business owners, your experience significantly contributes to the company, just as your partner brings a crucial perspective to its growth. However, a time may come when your journey...
When is it appropriate to use non-disclosure agreements?
Running a business can come with various challenges, and this is especially true for owners who rely on proprietary and confidential information. In this day and age, protecting data is a priority, mainly if revealing these details can endanger business operations....
What should I include in my vendor agreement?
Many companies need to use vendors to support their operations and it is important to establish clear expectations for them. There are several elements you should include in a vendor agreement. Vendor agreement The vendor agreement should identify the parties and...
Understanding precedence clauses in employment contracts
When reviewing an employment contract, we already know to look for restrictive clauses and similar provisions to ensure they are valid. However, there are special clauses that not all workers may be familiar of, one of which are precedence clauses. A clause addressing...
What is consumer fraud, and why does it happen?
Consumer fraud is when an individual or entity employs deceptive business practices to cause a consumer to suffer personal or financial loss. The victims are consumers who genuinely believe they are participating in a legal business transaction when the reality is the...
What makes a contract enforceable?
Contracts serve as a guiding compass for business partnerships. Its terms and provisions articulate the roles, expectations and responsibilities of the parties involved. Yet, a contract needs more than just complex jargon and provisions to be enforceable. It must...
Have you been victimized by fraudulent misrepresentation?
You depend on your business contracts to be negotiated in good faith so that you can secure terms that are favorable to you and that clearly dictate your rights and obligations. Yet, all too often businesses are tricked into signing contracts that aren’t in their best...
Be aware of these four risks of starting a sole proprietorship
You have a lot of options when it comes to choosing a structure to support your new business. While each type has its own benefits, each also has drawbacks that may impact your business operations moving forward. To mitigate those risks as much as possible, you should...