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A contract’s scope of work defines the work one party agrees to perform on behalf of another. It establishes a project’s boundaries by identifying the required tasks, deliverables and responsibilities, giving both parties a shared understanding of what the agreement...
Contracts help define the rights and responsibilities of everyone involved in a business or personal transaction. When one party fails to meet those obligations, the agreement may be breached, creating financial and legal consequences. Not every breach has the same...
There are specific scenarios in which the civil courts may agree to rescind or invalidate a contract. The party raising questions about the contract often needs to present a compelling case as to why the contract is illegal or unfair. One of the more common reasons...
Finding the perfect storefront near the Arlington Highlands or the Entertainment District is a major milestone for your business. That excitement can quickly turn to stress when a landlord hands you a 30-page "standard" lease agreement. Many owners feel tempted to...
Breaches of contract can be very frustrating for business leaders. After making an effort to negotiate clear arrangements with another party, they don't receive the goods, services or payment that they deserve. Breaches of contract can cost money by interrupting...
Sometimes a deal sealed with a handshake feels just as solid as one written in ink. Especially in longstanding relationships or small businesses, spoken promises can carry real weight. But when trust falters or circumstances change, those casual agreements may quickly...
When parties enter into a contract, they have an obligation to be truthful. If an individual or someone representing a business fails to disclose relevant information or claims to have qualifications they don’t have, they could be guilty of “fraudulent...
In general, a fiduciary duty means that someone has to consider the best interests of another individual or potentially a business entity when making decisions. If they have a fiduciary duty, they cannot simply act in their own best interests at all times, especially...
Business disputes are almost inevitable, but how you handle them can make a big difference in your company's future. While filing a lawsuit might seem like the only way to get justice when dealing with a contract breach, a partnership fallout or unfair competition, it...
The contracts you sign with the parties you work with, be it an employee, business partner, supplier or contractor, will include dates. These dates are crucial, as they impact the enforceability of your agreements. Below are four examples of such dates: 1. Execution...