In a litigious world, best practice is to secure a written contract for agreements whenever possible. This avoids relying on “he said, she said” testimony. But sometimes this is not possible. Are verbal contracts binding? Verbal contracts are legally binding and enforceable if they meet certain requirements. If the verbal contract is otherwise valid, it is enforceable. The contract...
Continue ReadingWhen you enter into a contract with another party, you expect them to hold up their end of the bargain. Unfortunately, this isn’t always the case, and you may find yourself in a dispute over a breach of contract, wondering what steps to take next. In Texas, a breach of contract occurs when one party fails to fulfill its obligations under...
Continue ReadingWhen handling a business contract or navigating a personal agreement, the last thing someone needs is for the other party to back out or fail to deliver on their promises. Whether a contracting party is a buyer, seller, or service provider, an anticipatory breach of contract can create chaos. This breach may leave a party wondering what to do next and...
Continue ReadingWhen a business mistreats someone, it might be time for the mistreated party to sue. A business lawsuit can right many wrongs and bring closure in a dispute, but it can also come with a hefty check for the plaintiff. When considering legal action against a business, the natural question is, How much does it cost to sue a...
Continue ReadingFiduciary duties are the cornerstone of trust and integrity in many relationships. A fiduciary who breaches one of their duties can cause significant pain and loss to others. But how do you prove a breach of fiduciary duty? The methods for proving a breach can differ depending on the facts of each case. This article will provide a general...
Continue ReadingA breach of contract occurs when one party fails to fulfill their obligations under a legal agreement, possibly leading to significant financial and legal consequences. Understanding the statute of limitations in Texas for breach of contract claims is crucial, as it sets the timeframe within which you can initiate legal action. Missing this deadline can result in losing the...
Continue ReadingIf you own a business, it is almost inevitable that you will face a business contract dispute. Contracts are the lifeblood of most business operations. Businesses regularly contract with partners, vendors, customers, and other companies. Typically, the parties uphold the agreements. But there are times when business disputes arise. Business contract disputes that go to court are often costly and time-consuming....
Continue ReadingA limited liability company (LLC) can be a useful structure for your small business. If you have determined it is the best entity for your business, you may want to set it up as soon as possible. The sooner you have your business up and running, the sooner you can start selling your goods or services and earning money. So, how...
Continue ReadingYou may have heard the phrase that if it is not written down, it never happened. With contracts, it is always best to memorialize the terms in writing. A written contract ensures both parties understand their responsibilities and what is being exchanged. It reduces misunderstandings and disputes. However, goods and services are often still exchanged without a written contract. And what...
Continue ReadingBeing a business owner is a great experience. The pride of watching a company grow is second to none, and being a part of that process is amazing. But sometimes, even the strongest businesses can run into problems. What happens when you are not the controlling owner of a company? Do you have any rights, or are you at...
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