Contracts govern the business world. Contracts exist between business partners, businesses and clients, businesses and customers and much more. A fundamental aspect of a sound contract is that both parties must enter it in good faith. Neither party should be lied to....
Business Litigation
How to respond to anticipatory breaches of contract
Contracts are designed to set expectations and limit conflicts, but breaches of contracts still happen. Sometimes, those breaches happen without warning – but there are other times when you see them coming. When another party clearly indicates that they won’t (or...
Leveraging early payment discounts to avoid customer defaults
Managing your company’s cash flow and minimizing the risk of customer defaults are critical when it comes to maintaining your company’s financial health. Early payment discounts can be part of an effective strategy to achieve these goals. This incentive can encourage...
Different ways that contracts can be breached
In the business world, contracts are everything. They outline the rights and obligations of companies, clients, vendors, contractors and much more. When a contract is not honored, this is often referred to as a contractual breach. Breaches of contract usually occur...
Disagreements can lead to nonpayment issues for contractors
A general contractor is a professional who will take on construction projects, such as the building of a new home. Many times, a general contractor will oversee the whole project, while hiring subcontractors to do specific jobs, like plumbing and electrical work. But...
Understanding partnership agreement disputes
Joining a like-minded party in a business venture can make things a little easier. And if you get it right, a business partnership can broaden your reach and help you build a stronger and more profitable business venture. However, business partnerships, like all...
Has an employee leaked important business information?
You’ve worked hard for many years to establish your business and its reputation. Your company functions on the basis of using unique methods, technology and processes. In other words, your trade secrets are very important to you. If your trade secrets fall into the...
4 types of contract breaches
When running a business you’re likely to make a lot of contracts. Contracts help outline what is expected from another party that intends to provide a service to a business. Contracts can help ensure a business is running smoothly without having to step into dangerous...
Can a partnership contract be renegotiated?
Individuals get into a business partnership for a few major reasons: They want to grow their business partnership and make a profit. However, changes in circumstances can make an existing partnership agreement untenable. If this happens, and you do not wish to close...
Is it possible to minimize the risk of customer nonpayment?
Most business owners want to avoid litigation and legal proceedings whenever possible. Litigation is often disruptive in companies of all sizes --even large successful businesses. Simultaneously, you want your customers and clients to pay for the goods or services you...