The free market can certainly be ruthless for small businesses. The competition, however fierce, has to be fair, though, and businesses who have recognized commercial relationships with other businesses deserve to operate within the scope of those relationships without a third party meddling in their affairs. Claims for breach of contract are fairly straightforward, but...
Monthly Archive: September 2020
The classical notion of lawsuits and litigation is that the defendant has to pay money (damages) to the innocent party as a court-ordered remedy. To be sure, this is the most common remedy, but there are instances in which other remedies are more appropriate. In business litigation–and, specifically, breach of contract claims–injunctive relief is sometimes...
Previously, we discussed the basics of the “substantial performance” doctrine in contract law. In that discussion, we saw how substantial performance functioned as a kind of excuse for an immaterial breach or imperfect performance, and that the non-breaching party was entitled to the difference in value arising from the breach. Substantial performance is just one...
Mergers and acquisitions can be complex, multi-faceted transactions. In addition to the myriad tax, legal, and financial considerations which impact M&A transactions, there is also the burden of conducting adequate research in order to verify information prior to closing. This pre-closing research is referred to as “due diligence.” Due diligence in M&A encompasses a wide...
Aspiring entrepreneurs in Florida often ponder the question: which entity should I select when I create my company? This is an area which most entrepreneurs know little about. Gaining familiarity with entity selection is something aspiring entrepreneurs should strongly consider. The reason for this is because doing so can confer significant benefits. One of the...
In recent blogs, we have tried to convey the fact that contract formation can be quite complex. We’ve explored the nuances of contractual elements (i.e. offer, acceptance, consideration, legality, capacity, and writing), as well as other theories which inform contract law. Business owners need to commit at least some amount of energy to learning the...
Over time, you might find occasion, as a business owner, to send a cease-and-desist letter to those you feel are depriving you of a certain right. It is not out of the question for you, at some point in time, to receive one yourself. You are aware that cease-and-desist letters are not indicators that everything...
Recently, we discussed the concept of unconscionability in the context of contract formation. As we saw, unconscionability is something which can potentially overturn a contract which otherwise appears to be valid. Understanding unconscionability is a good way for businesspeople to get a sense of the complexity of contracts. When you form a contract, not only do...