An employment contract defines what is expected from both the employer and the employee. It has clear guidelines, eliminating chances of misunderstandings in the future. Thus, you need to create an effective contract for your employees. To do so, you will include...
Business Law
Are you responsible for your business’s debts?
If your business is in debt, you may be worried that it’s insurmountable. The business is going to have to close. There’s just no way that the current model is sustainable, even if the reasons for it are things that are out of your control – like inflation or a...
Factors that can invalidate a contract
Contract law plays a vital role in our daily lives, even if we don’t realize it. A simple transaction at our local grocery store is a contract. In areas such as business or real estate, the sums of money at stake can be much more significant, so watertight contracts...
What should you put in a partnership agreement?
A partnership agreement is a very important document if you’re starting a new business. It’s essentially a contract between you and your business partner. What does this contract need to include? It’s important to know before you begin so that you can get everything...
Selling your business? Remember these 4 tips
It’s important that you understand your rights and obligations if you decide to sell your business. Before you can sell your business, you will need to make sure it is ready to sell. You’ll want to be sure that you understand your financial situation and that you have...
Can you require alternative dispute resolution in your contracts?
Business contracts generally outline what obligations each party has to the other. From establishing a timeline and the payment schedule to restricting future economic activities, there are many inclusions for contracts that can help protect those signing the...
Possible remedies for a contract breach
A breach of contract can set you back financially or otherwise when it happens. Therefore, you need to know the possible remedies that would be appropriate to remedy the situation you find yourself in after the breach. The appropriate remedy depends on the type of...
Mistakes to avoid when drafting a vendor contract
Strong, effective contracts form the foundation of any successful business enterprise. From employee handbooks to vendor contracts, a business owner must pay careful attention to numerous factors to protect the organization and encourage beneficial relationships....
Preparing to sell your successful business
Creating a business from the ground up takes years of dedication and commitment. As you build your company into a successful pillar in the community, you may start to consider what is next for you and your business. Some business owners choose to pass their business...
How can you determine if your contract is valid and enforceable?
If you sign a contract with someone else, you likely expect them to follow through with the terms of the contract. The sad truth is that there are many people who don't fulfill their obligations to others. Some people will intentionally try to defraud others. Others...