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Maintaining a successful business contract requires constant effort and open communication. Overlooking the fundamentals could jeopardize key relationships and endanger your organization. When you know some strategies for preventing disputes, you can better manage the...
As a business owner, executive or manager, preparing ahead of contract negotiations is essential. Not only will this help protect the interests of the business and ensure favorable terms, but preparation can also alleviate negotiation stress. Before entering contract...
You may have a promissory note forming an agreement with another party. This document binds the signer to pay you a specific amount of money in exchange for a loan or another service. If the debtor is late with your payment, you could use the note to claim the debt....
In many cases, after a breach of contract by one party, the non-breaching party may get “relief,” or a “remedy” to the situation. This is a way of solving the issue between the feuding parties. There are three common ways to remedy a breach of contract. According to...
It is important to understand that litigation is not the only option when it comes to handling contract disputes. In fact, it is usually better to avoid litigation if at all possible. Litigation can be expensive, ruin valuable relationships and be time consuming....
A contract is a legal agreement your business makes with another for the exchange of items or performance of services. When the other party to that agreement is not sticking to it, you and your business may suffer severe losses. A contract breach occurs when one party...
Whether your business loans money to individuals seeking to start a business or you financed the sale of a previous commercial venture, a loan default could harm your financial bottom line. According to The Balance, a default occurs when a borrower fails to meet the...
If you sell retail goods or services, especially higher-priced items, you may want to consider offering payment plans for customers. If you do, you must have the customer sign a retail installment sales agreement. This agreement outlines the terms of the contract so...
If you run a small business, many different challenges could arise, whether you run into problems with respect to staffing, financing or taxes. In addition, you could find your firm in the middle of a contract dispute, and the outcome of this dispute could have a...
Contract disputes can cost your company a lot of money and may even impact its reputation. You may also expend valuable resources finding a solution and unintentionally disrupt your workflow along the way. Protecting your company against such disputes begins during...
