Contracts Law Blog

Absolutely, bankruptcy will have an impact on your
contracts.  So what should you do when
you receive a Notice of Filing Bankruptcy
Petition in the mail? First, don’t make a panicked attempt at collecting
any debt owed. The filing of a bankruptcy petition invokes the automatic stay.
The automatic stay is an immediate injunction, regardless of default or notice,
against all creditors that take action to collect debt or... Read More

The Anatomy of a Good
Contract

So what is a good contract anyway? A good contract will minimize
your disputes between other parties. If a dispute does arise, a good contract
will allow a mediator, arbitrator, judge or jury to better understand the
intent of the parties. After all, a decision will likely be made based on the
four corners of the... Read More

The language of the contract may be solid but there are
other pitfalls that you must be aware of. Certain issues will make a contract
void (unenforceable) or voidable (valid until rejected by the wronged party). If
the contract is voidable, the wronged party can elect not to have it enforced. Watch
out for the following issues:

Your business needs contracts, there’s no question. You
should have contracts for every aspect of your business.  If you think you can get by without a written
contract, think again. If you don’t put words to paper, you’re giving your
suppliers, employees, servicers and customers an opportunity to harm your
business and your prosperity.

You may have a great relationship with your... Read More