Businesses continually enter into contracts as a routine part of conducting business. Most of the time, everything goes according to the parties’ expectations, and the contract itself is just a formality. It’s usually when something goes wrong that the actual terms of the contract becomes important. When business contract clauses are drafted properly, the parties […]
Structuring your business depends on your business type, how you want to define ownership, and how you want to formalize your operation. The most common business structure is the LLC or Limited Liability Company. If your business generates profit or if you have personal assets like a car, house, bank accounts, etc., it is imperative […]
Contracts are integral to business transactions, providing a framework for parties to define their rights and obligations. However, not all contracts are enforceable, and there are certain circumstances under which a contract may be voided or rendered unenforceable under Texas law. Our Houston contract lawyers at Feldman & Feldman, PC will help you understand your […]
Contracts and agreements are major components of how successful business dealings work. This is especially true for businesses that work with vendors or outsource work. When this happens, a service level agreement is typically put into place to ensure the needed service supplied by the vendor is done effectively. Knowing the right SLA to use […]
Contract disputes in the state of Texas can be extremely complex due to the high volume of business conducted in major cities such as Houston, Dallas, and Austin. The state of Texas is a business hub, and contracts are one of the most important components of the business relationships that help make Texas one of […]
The law says a contract is formed when there is an agreement for an exchange of value, and all parties are legally capable of entering into the agreement. Contracts do not have to be written except for specific types of business contracts, but most business contracts are evidenced by formal, written documents. Texas recognizes the […]
The term ‘independent contractor’ is used widely. Ensuring you have carefully written contracts, can go a long way toward protecting a business as well as the independent workers they hire. Should a business desire to hire an independent contractor, it’s important to draft an agreement in writing. Some of the most important items to consider […]
In the world of entrepreneurship and business ventures, partnerships often play a crucial role in the success and growth of a company. A well-structured contract can bring together complementary skills, resources, and expertise, allowing businesses to achieve more than they could on their own. Without proper documentation and clear guidelines, partnerships can quickly turn sour, […]
You should not enter into a partnership agreement with someone based on a handshake. No matter how much you may trust that person, any business arrangements you agree to enter into need to be memorialized in writing. In a partnership, the agreement between you and your partner(s) is what gives you rights and obligations with […]
If you need to file a lawsuit, you do not have an unlimited amount of time to do so. No matter what type of case you are filing, there is always a limit to when you can sue. A statute of limitations applies to most criminal actions and all civil actions. Once the statute of limitations passes, you can no longer file a lawsuit. Thus, you need to be aware of the timelines in your case or else you can lose the right to a financial recovery or other legal relief, such as an injunction or specific performance of a contract.
When your company does business with vendors for goods or services, you need clear and well-drafted contracts to govern these relationships. Otherwise, you may be risking future headaches that could include supply disruptions and lawsuits. There are a number of situations and pitfalls arising out of poorly written vendor contracts you must act to prevent. Sloppy contract drafting or a lack of foresight could doom your company to legal troubles. The best way to avoid problems with vendor contracts is to have an experienced attorney draft and review your contracts. In the meantime, here are some common pitfalls businesses may face with their vendor contracts.
In many cases, a company’s contracts are one of the major reasons why a suitor wants to buy it. In most instances, the buyer of the business should be able to assume a contract the seller had. The question is usually what process the buyer will need to follow in order to substitute themselves into an existing contract.
A contract is a critical document that governs your relationship with a vendor. If any mistakes or important clauses are missing in the contract, you may end up paying a price for it. Therefore, it is crucial you obtain professional help before you negotiate and agree to any deal. This investment may save you both […]
Many people compare business partnerships to domestic ones, and it’s easy to see why. Just like marriage, a business takes a lot of dedication and hard work; and, breaking up can be hugely expensive. Business divorces can destroy a business and any assets you have spent years building. While business divorces are sometimes necessary and the best course of action, every effort should be made to avoid these costly breakups.
The COVID-19 pandemic has brought unprecedented change in the way many people go about their daily lives and work. While many employers have made decisions to keep their teams working remotely indefinitely, others have decided to return to the office, whether partially or full time. Because of this, COVID-19 liability waivers have become a common […]
Important information is often discussed during day-to-day business operations. Trade secrets, innovative ideas, and new projects can all help businesses maintain a competitive advantage. Many companies use non-disclosure agreements (NDAs) to protect sensitive information. Understanding how these agreements work and what they entail can help keep important business information secure. An NDA is a legal […]
