Contracts Basics

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What Are Abusive or Illegal Contracts?
Contracts are made all the time, and they're usually perfectly legal and everyone's happy. Sometimes, contracts aren't legal, and usually that means someone not only doesn't get what he wanted, but also gets a lot of legal problems he didn't want. Lady Gaga When Stefani Germanotta, who's better known ... READ MORE

What's Bartering?
  Bartering involves trading goods or services with someone else People have been bartering for thousands of years, and it's very popular today Knowing the rules of the trade and the tax issues involved are the keys to successful bartering   People have been bartering for years. In fact, you've probably ... READ MORE

Consumer Contracts: Mandatory Arbitration Clauses
Related Item Businesses scored a big legal win when the Supreme Court ruled arbitration agreements could limit class action lawsuits. The ruling affects businesses, consumers, and quite possibly, employees. A couple sued AT&T Mobility for fraud because their "free" cell phone offer required payment ... READ MORE

From Here to When? Contracts for the Future
“That wasn’t me, the production company just edited me that way.” If you’re a fan of reality TV shows such as “The Biggest Loser,” “Top Chef,” “The Amazing Race,” and so on, you’ve probably heard this phrase from at least one contestant. Just watching the show you might not know, ... READ MORE

Read, Then Sign: Contracts Can Come Back To Haunt
Has anyone ever slipped you a piece of paper, pointed to an X or dotted line, and then you scribble your signature without even thinking about it? Without even reading what you've signed? Don't worry, you're not alone. A lot of us have done it, but it's not a good thing to do. They're Everywhere Contracts ... READ MORE

Contract Interpretation
There are rules for interpreting written contracts when there is a dispute among the parties listed in the contract. The courts look to the intent of the parties at the time they entered into the contract. Intention The mutual intention of the parties at the time of the contract governs how the court ... READ MORE

Show Me the Money...Outrage over AIG Bonuses
  Update. In May 2010, the US Department of Justice won't file criminal charges against AIG or its executives AIG bailout totaled $150 billion of taxpayer money Bonuses paid to AIG employees were contractual obligations A breach of contract is a failure to fulfill a promise in a contract Under a clawback ... READ MORE

Assigning a Contract
Contracts can usually be "assigned" to another party, unless the terms of the contract prohibit assignment. When drafting a contract, consider when you want the parties to have the ability to assign their rights and obligations to a third party. ... READ MORE

Bailment: What It Means Under the Law
Bailment is the process of placing personal property or goods in the temporary custody or control of another. What are the legal obligations of being a bailee, and when should you give a bailee your property? ... READ MORE

Contesting a Contract
You've signed the contract--but are you really stuck with it? ... READ MORE


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Contracts Questions

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This makes no sense. How can you have had a month and 1/2 for work when its only 10/23...which is 1 week. You can fire anyone you want form a job - what the impact of that will be revolves around the ...Read more

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The Gypsy Brewers: Contract or Alternating Proprietorship?

It’s an exciting time for craft beer in Texas, and the industry is growing like wildfire. One of the benefits of being a brewer in Texas is that new laws regarding gypsy brewing have opened the ... Read more

Guidelines for Protecting Proprietary Information

Proprietary information is business information that has independent economic value from not being disclosed to competitive businesses or the general public. Also called trade secrets, it can include ... Read more

What happens if you used your automobile as collateral and it was totaled?

Q: I took out a loan with One Main Financial with my automobile as collateral. They take the payment out of my account once a month. All payments have been on time. I was driving my vehicle and the ax ... Read more

Small Business Services – Writing Contracts

Small businesses owners have to be nimble, responsive and aware of all of the legal issues as they operate their firms. With seemingly infinite government regulations, companies must be prepared to tu ... Read more

Buyers: Make Sure You’re Getting What You Bargained For

Businesses often buy equipment, supplies, and other materials on a contract basis. The contract itself often is not standard, but instead, is written up to reflect the results of prior negotiations. I ... Read more

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