Contract law governs, enforces, and interprets agreements between individuals, or businesses. A contract can cover a wide variety of subjects as long as it involves a promise in exchange for a gain or advantage. Contracts govern almost every aspect of our lives, so it is critical to consult a lawyer for up-to-date legal advice and guidance.
At Bitman, O’Brien & Morat, PLLC, we strive to achieve the best outcome for you or your business. Our attorneys draft and interpret various contracts for individuals and businesses. Call us today at 407-815-3110 to consult with a lawyer about your contract options.
An operating agreement allows the members of a limited liability company to customize the terms of their partnership according to the specific needs of the owners. This includes the following items:
- Each member’s ownership interest
- The members’ responsibilities and voting rights
- The duties and powers of each member
- The profit and loss allocation among the members
- The rules regarding meetings and votes
- Buyout and buy-sell provisions
- The decision-making structure
An operating agreement may also be amended at a later time. This is best done with the help of an experienced attorney as they can help you protect your interests.
A company’s bylaws are a set of rules put in place to control the actions of its members. They may cover topics such as:
- Broad purpose of a charitable organization
- Size and function of the board of directors
- Elections, terms and duties of directors and offices
- Basic rules for voting, holding meetings, electing directors, and appointing officers.
All bylaws must comply with your state’s statutes for mandatory provisions. Additionally, if the business is incorporated, the bylaws must comply with the articles of incorporation. To ensure that the bylaws comply with all requirements, an experienced attorney should be consulted prior to amending or drafting your company’s bylaws.
Any business or individual should have a contract with each of its vendors setting forth the provisions and conditions of the work or service to be provided. If the document is drafted properly, it should provide protection against potential liability. However, most vendors have their own pre-drafted vendor agreements which tend to favor the vendor.
All vendor contracts should contain, at a minimum, the following information:
- The cost or price;
- Services or product provided;
- What happens if something goes wrong;
- The date of delivery;
- When payment is due; and
- How the agreement may be terminated.
Whether you are a vendor looking to draft a new vendor contract, or are a business, preparing to enter into an agreement with a new vendor, it is important to make sure that your interests are secured and that you are protected from potential liability. This is best done with the help of an experienced attorney who can draft or review your contract.
Invoice Terms and Conditions
In the absence of a written contract, an invoice for the sale of goods or services can become a contract between the parties. For this reason, it is imperative that the invoice contain terms and conditions pertaining to the individual sale.
The invoice should typically contain the following information:
- An itemized list of the products or services
- The price and delivery terms
- The terms and conditions of the sale
In order to assure protection of your business in the case of a potential lawsuit, it is important to make sure that certain provisions are clearly stated within the invoices such as:
- Terms of payment
- Who will bear the risk of loss during delivery
- Whether any warranties are waived
- What will constitute a default under the agreement
- How a default may be cured
As the invoice terms and conditions are considered contract terms within the State of Florida, it is important to make sure that your business is protected. This is best done with the help of an experienced contract attorney.
Hiring A Contract Lawyer in Florida
At Bitman, O’Brien and Morat, PLLC, our attorneys care about your best interest. To learn more or to consult with a qualified and committed contract lawyer, please call us at 407-815-3110. We serve you with offices in Florida in Orlando, Miami, Tampa, and Fort Lauderdale.