What is a contract?
- It is a legally enforceable agreement between two or more persons.
- A corporation is a person.
- Each person has an obligation to the other(s) to do something or sometimes, not do something
- The mutual obligations must be bargained for by the contracting parties.
Do I have a valid contract?That is not an easy question to answer. Contracts are tricky things and depend entirely on a legal analysis of facts.
- There must be an offer
- What appears to be an offer may be nothing more than an "invitation"
- Acceptance of the offer must be unconditional
- A counter offer is a rejection of the initial offer
- Once an offer is rejected, it is no longer available to accept. The acceptance must be timely
- Some contracts must be in writing
- There may be a defense to the formation of a contract such as undue influence or lack of capacity
What Can I Do If Someone Breaches?
When a promise is not kept, it is called a breach. Your remedy is generally the benefit of your bargain, but it depends on many factors, such as:
- Does the breach go to the heart of the contract or is it merely peripheral?
- Is the subject of the contract unique property or is it money?
- Did the breaching person have a legal excuse for not performing?
- Is the contract enforceable
- Did you agree in the contract to a specific amount of money or a specific remedy?
Our experienced business lawyers will review your documents and discuss the situation with you to determine what your legal rights and any remedies you may have.