Contracts

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?

In addition to contract damages, you may be able to show misrepresentation, deceit, and an intention not to keep a promise when made. Even if no contract exists, the law may find a substitute for a contract and award damages.

 

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.