Contract negotiations and disputes can take up a great deal of energy and time when you run a business, but you ultimately hope that everyone will eventually come to an agreement that they can live with (if they can't find one they actually like).
Contracts are the lifeblood of the business world, but you don't ever want to sign an important contract without reviewing it closely.
It's sometimes said that "the biggest mistake you can make with a contract is not having one at all." Contracts offer you significant protection over verbal agreements or "handshake deals."
What's the difference between a representation, a warranty and a covenant in the contact you have in front of you?
Noncompete agreements have become par for the course in many industries as employers seek to protect their trade secrets and investments.
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There's an old saying that goes something like, "An oral contract is worth the paper that it's written on," but is that the truth? Are handshake deals nothing more than promises in the air with no real substance behind them?
Offer, acceptance and consideration are the main building blocks of any contract. Until all three of those things are present, there isn't a legally enforceable agreement.
When two parties make a contract, there are often a lot of different provisions and terms that are included. Many of those terms have to do with procedural issues (like how payments are to be made and how often updates are supposed to be given on a project). Other provisions may involve details and plans for a project, including things like design and delivery agreements.