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A broken agreement does not always mean there is a breach of contract. Under Nevada law, the party bringing the claim must prove that a valid contract existed, the other party failed to meet its legal duties and the breach caused real financial loss. Learning about...
Noncompete agreements can be controversial inclusions in contracts. Especially when they are part of an employment contract, people may question whether the noncompete agreement is truly necessary. There are concerns that the excessive use of noncompete agreements has...
A broken contract leaves you with choices. You can ask for money, or you can ask the other side to do exactly what they promised. That second option is called specific performance. It sounds like the ideal fix, yet courts do not grant it freely. Knowing when a judge...
Entrepreneurs often encounter contracts that cover various aspects of running a business. These can be a lease for a building, a supplier agreement or a licensing deal. Regardless of the reason for the contract, it’s critical that the entrepreneur fully understands...
Handshake agreements are common in the business world. Many partnerships, vendor relationships and client arrangements begin with trust, shared goals and a simple verbal promise. At first, informal agreements may seem easier and faster than drafting formal contracts....
Employment contracts can provide many advantages for employers, helping to legally define the relationship between employer and employee. This is much different than using at-will employment, where there is no formal agreement in place. For instance, at-will employees...
Contract terms often focus on what each party should do for the other. They may outline payment terms and delivery schedules for vendors, for example. Contracts also sometimes include provisions explaining what either party should not do. Restrictive covenants in...
Business contracts can create a variety of obligations and duties. Businesses and professionals may agree to render goods or services. They may agree to specific financial arrangements, such as a timeline for payments on a large project. Contracts may include...
Contracts are essential legal documents that establish business relationships. Many contracts are used to arrange for goods and services, establish a party’s rights and protect a business's interests. However, if a party does not follow the terms of a contract, it can...
Ideally, the terms of a contract are very clear. Each party has obligations to the other that may involve providing services, delivering goods and rendering payment. Provided that both parties fulfill the terms of a contract, a written agreement could lead to a...