Posts Tagged ‘contract law’

Hire a Lawyer to Negotiate and Prepare Business Contracts

March 4th, 2010

By Mark Schecter | No Comments »

torn-contractWhen you enter into an agreement to exchange goods or services, it is always best to do business with a legally binding contract that unambiguously expresses the terms of the agreement.

Whether you are attempting to purchase commercial real estate or use the services of another business, you should rely on a valid contract that sets forth the intentions and obligations of all parties involved.

What is a Contract?

A contract is a legally binding agreement between two or more parties that’s enforceable by law. In order to be considered valid, every contract in Florida must have 3 essential elements, and they are:

  • An offer
  • Acceptance of an offer
  • Consideration / compensation

Without all 3 of these elements present, a contract is not considered “valid and enforceable.”

Why should you hire a lawyer to prepare and review a legal contract? Why can’t a simple handshake and a verbal agreement suffice?

An ironclad business contract represents the parties’ obligations, compensation, penalties, and other pertinent terms and provisions; and can protect your business interests if or when a breach of contract occurs. Thus, most “big” business deals are sealed with a contract.

The strength of any contract is contingent on the effectiveness of the negotiations process. Having a tenacious business lawyer to negotiate contract terms that express and protect your best interests is the safest way to do business.

Regardless of the nature of your business, doing business with an ironclad business contract can prove to be essential to your company’s success. Now may be a good time to re-evaluate the business contracts you’re relying on.

The business lawyers of Schecter Law specialize in business law and have decades of experience negotiating contract terms, drafting ironclad contracts for small and large businesses, as well as defending and enforcing contract terms.

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Posted in business | No Comments »

Outsource to Contract Lawyer to Deal with Layoffs

February 11th, 2010

By Mark Schecter | No Comments »

If you follow the local and national news, you are aware of the US economy and rising unemployment rate. It’s difficult to ignore the dismal news as the topic is frequently covered in all areas of the media, from morning and afternoon talk shows, to radio and newspaper ads.

As a business owner, you constantly struggle with the thought of cutting back your costs and budget, and the possibility of having to lay off employees and add to the rising unemployment rate. But the fact remains, you are responsible for finding ways to keep your company viable while you deal with the current crisis. That means in many companies, layoffs are inevitable.

While you work hard to cut your budget and control your costs to deal with the business losses you’ve experienced, you may find you’re forced to downsize the number of employees in your company.

With that said, it’s not always simple to determine who will be laid off. While you may be able to fade out certain positions, you’ll find there are others you cannot afford to dissolve.

For instance, it may not be a good idea to completely fade out the legal services your in-house attorney provides to protect your company. In fact, it may be an absolute wrong decision as claims of wrongful termination and other employment disputes tend to increase when layoffs occur.

So, what can you do?

You can outsource to a local contract attorney many of the same legal services an in-house attorney offers. Does this mean you must completely dissolve your company’s legal department? No. But it does mean a contract lawyer can prevent you from having to hire more salaried in-house attorneys and support staff.

Although much of the news we hear focus on the loss of jobs once held by middle Americans, there are other industries that are often overlooked. The legal industry has been hard hit by the economy. It was already heavily saturated and very competitive, and the economy has only exacerbated that reality.

Now, instead of hiring more in-house salaried lawyers, many corporations hire contract attorneys to provide legal services they need. In many instances, a lawyer working on a contract basis has the same (and sometimes more) education and work experience as the typical in-house attorney.

Has your company considered outsourcing to fill in-house attorney positions following layoffs?

http://www.schecterlaw.com/litigationblog/legal-services-local-corporate-attorneys-offer

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Posted in Corporate Outsourcing, Outsourcing Trends, South Florida | No Comments »

Do you have a Breach of Contract Case?

July 29th, 2009

By Mark Schecter | 3 Comments »

torn-contract

At the time you enter into a legally binding contract with another party you’re not expecting them to renege on their promises. You’re relying on them to fulfill their obligations and to perform as agreed. In fact, in most instances the other party doesn’t set out to defraud you. However, life happens, circumstances change, priorities shift, and before long you’re out of time, money and a whole lots more.

At What Point is a Contract Breached?

Generally, a breach of contract occurs under one of these three circumstances:

1. A party acts or fails to act in a way that prevents another party from performing his duties as per the contract.

2. A party refuses to perform as promised.

3. One or more parties “intend” not to perform as agreed.

Some contract breaches are more severe and damaging than others. Contracts can be breached in whole or in part. When a whole (aka material) breach occurs the injured party can ask the court to order the other party to perform as agreed, and can recover damages as well. With a minor (aka partial) breach, performance cannot be ordered although damages can be sought and recovered.

Does your Breach of Contract Case Satisfy Florida Law?

Under Florida law, not every contract breach meets the legal requirements to justify a lawsuit. This is referred to as the ‘cause of action’ threshold. If your case does not satisfy the legal requirements, you cannot file a lawsuit seeking recovery of damages sustained as a result of the breach.

So, how do you know if your case meets the threshold established by Florida law?

According to Florida state law, four elements must be satisfied in order for you to have an actionable breach of contract case. Ask yourself these four questions to see if your case meets the legal requirements:

1. Is there a legally binding contract?
You must first prove that a legally binding contract exists between the parties. Obviously, with a written contract or agreement this requirement is easier to satisfy. If you do not have a written contract of any kind, you will need to prove that the parties entered into a verbal agreement.

2. Did you perform as expected?
Before you attempt to sue another party for breaching a contract let’s first confirm you performed as agreed. Is there anything you should have done but did not do? If you fulfilled your obligations as per the agreement, consider this element satisfied.

3. Was the contract breached?
Once you’ve established that a contract existed and that you kept your end of the bargain, you must prove that the other party failed to perform, leaving their contractual obligations unfulfilled, or that he/she performed unsatisfactory.

4. Did you sustain damages due to the breach?
This last requirement is just as important as the first. A breach can exist; however, if it did not result in damages to you, you cannot satisfy this requirement. You must provide that you sustained damages (i.e. monetary loss) as a result of the other party’s breach.

If you’re dealing with a breach of contract issue in Florida and your situation satisfies the four requirements above, you should consult the knowledgeable Florida contract law attorneys of Schecter Law. In order to recover for your damages, you must act before the Florida statute of limitations expires.

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Posted in business, contract law | 3 Comments »

3 Essential Must-Haves for Every Florida Business Contract

July 1st, 2009

By Mark Schecter | 7 Comments »

A contract is a legally binding agreement between two or more parties that’s enforceable by law. However, not all contracts are created equal. In fact, some contracts aren’t even valid.

South-Florida-business-contract

Contract laws can vary from state to state. A contract that is valid in California may not be enforceable in Florida. A form contract downloaded from an online source, although properly formatted and full of legal terminology, may not adhere to the contract law requirements in the state in which you operate your business. As a businessperson, it is imperative that the contracts you’re relying on to protect your business are doing just that, and not leaving your company vulnerable.

Under Florida law, a contract must have 3 essential components to be considered valid and enforceable. Those components are:  an offer, acceptance of offer, and consideration. Let’s take a moment to discuss each must-have component below:

1.    An offer

The first required component of a contract is the offer. An offer is a written or verbal statement of either party indicating their intention to act upon acceptance. An offer can be renegotiated, withdrawn or rejected at any time prior to acceptance. However, once the offer has been accepted and the contract signed, your company’s considered a party to the contract and will be obligated to perform or not perform as agreed.

2.    Acceptance of the offer

The second required component of any Florida contract is acceptance of the offer. Once an offer has been presented, all parties to the contract must fully and openly accept the offer. An offer can be accepted in writing, verbally over the phone, or via the U.S. mail. In the latter, the offer is deemed accepted from the moment the mail is placed inside of the mailbox; not from the time the recipient receives the mail.

Oftentimes, in response to an offer, a party will suggest revisions or attempt to change the conditions of the original offer. In these instances, the original offer is considered rejected, and the revisions and/or new conditions are deemed counter-offers.

3.    Consideration

The third must-have component of a contract is consideration. Consideration describes the value that will be given to the parties of the contract in exchange for their performance. There are various forms of consideration including, but not limited to, money, services, and tangible items. Without consideration, the performances promised in your contract are merely gifts. In order to satisfy the validity threshold, your Florida business contract must evidence some form of consideration on behalf of all parties involved.

As a business owner, you’re probably no stranger to contracts. Regardless of the nature of your business, doing business with an ironclad business contract can prove to be essential to your company’s success. With the decline of the U.S. economy and rise in the number of breach of contract claims, now is the time to reevaluate the contracts you’re using to protect your business.

The business law attorneys of Schecter Law have decades of experience negotiating contract terms, drafting ironclad contracts for small and large businesses, as well as defending and enforcing contract terms. So, there is no need to go it alone. Retain a South Florida firm of experienced contract attorneys that specialize in business law to prepare ironclad business contracts that will protect your interests and your business.

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Posted in contract law | 7 Comments »