Contract Law
All businesses inherently deal with contracts; even if they are unwritten, as with many transactions involving goods or services. Since a contract is a legally binding agreement, and even an honest contractual mistake can cause serious problems, it is crucial that small business owners have at least a basic understanding of contract law. This section covers the basics of contract law and how it relates to the many facets of running a business, including articles on when a verbal agreement carries the weight of a contract; the meaning of "breach of contract;" which contracts must be in writing; and related topics.
- Contracts Basics
Explanation of what constitutes a contract, the value of a written contract, and other general information
- Contracts and the Law
How federal, state, and local laws interpret and enforce contractual obligations in a business context
- Will Your Contract be Enforced Under the Law?
Basics of what makes a contract enforceable, including some common defenses to contractual obligations
- "Breach of Contract" and Lawsuits
Breach of contract overview, including common remedies and grounds for breach of contract lawsuits
- "Breach of Contract" and Lawsuits
- Can Silence Signal Acceptance?
- Contracts and the Law
- Contracts Basics
- Contracts FAQ
- Do All Construction Contracts Have to Be in Writing?
- Do Construction Contracts Require Consideration?
- How Can an International Contract Be Illegal?
- Is an Advertisement an Offer?
- Lessons Learned the Hard Way: Business Contracts
- Must a Mortgage Be in Writing?
- Top 10 Reasons to Avoid Breaching a Contract
- What are the Rules Regarding Signatures in Contracts?
- What Contracts are Required to Be in Writing?
- What is "Consideration" and How Much is Required?
- What is "Specific Performance" as a Legal Remedy?
- What is an Offer?
- What is an Option Contract?
- What is the Most Common Legal Remedy for a Breach of Contract?
- When Will a Promise or Statement Be Considered a Binding Contract?
- Will Your Contract Be Enforced Under the Law?