There's been a lot of talk in the news lately about what it takes to make a contract legal.
If a contract clause can reasonably be interpreted in more than one way, that's an ambiguous clause -- and a potential problem for your business.
If you have a contract with someone, you expect them to fulfill it.
If you call a document a "letter of intent," is it enforceable as a contract?
There's a phrase or two that's commonly seen in contracts called a governing law provision or conflict of laws provision. Many people read over this part of the contracts that they sign without fully understanding its meaning.
Did you just get your first professional job offer? As excited as you may be, reign in your enthusiasm so that it doesn't override your common sense.
Is it time to sell your small business? Maybe you're ready to close up shop and retire or maybe you've been offered a price that's too attractive to refuse.
There are lawyers in practice today that probably weren't even born when the band known as "Jefferson Starship" was at its peak back in the mid-1970s and 1980s.
If you fail to live up to the terms of a business contract, or "breach" it, does that relieve the other person in the contract from his or her end of the deal? The answer is more complicated than most people think.
Contracts are part of doing business -- you won't be in business long if you don't get a clear idea of what it takes to make a contract valid and legally enforceable.