Contract law
Contract law governs, enforces, and interprets agreements between individuals, businesses, or groups. A contract can cover a wide range of subjects. However, the common principle of all contracts involves a promise in exchange for a gain or advantage. In fact, contracts govern almost every aspect of our daily lives. Therefore, it’s essential for all parties involved that they’re done right.
If you are drafting a contract, you should consult an Orlando contract lawyer for up-to-date legal advice and guidance.
In fact, you should involve a contract lawyer no matter what type of contract you require. A contract attorney can also assist in the event of a contract dispute. Therefore, it’s best to involve your business contract lawyer as early as possible in the process. This will help to make sure the contract process runs smoothly.
Seeking an Orlando contract lawyer to help with a contract issue? At Bitman, O’Brien & Morat, PLLC, we strive to achieve the best outcome for you or your business. Our Orlando contract lawyers draft and interpret various contracts for people and businesses. We can represent your interests in all types of contract matters, no matter the issues involved or how complex. A contract attorney will also defend your interests in the event of a contract dispute.
Call us today at 407-815-3110 to consult with a contract attorney about your contract options. We will provide you with the best advice and guidance regarding your specific contract issue.
What Makes Up a Contract
Contracts come in all shapes and forms. An Orlando contract lawyer can help you navigate your way through any type of contract. This is the case, no matter how complex the contract in question. Examples of commonly used contracts include:
- Financial Agreements
- Employment Contracts
- Lease Agreements
- Sales Contracts
- Real Estate Contracts
Potential risks arise due to badly drafted contracts. These often lead to legal errors and disputes that end up in expensive legal battles in court. Therefore, you should rely on an Orlando contract lawyer to draft a precise contract. A business contract lawyer will help safeguard your interests and legal rights.
The five elements that make up a legally binding contact include:
- An Offer: Each Party Involved Agrees To The Terms Of The Contract. It’s Important That You State The Offer Clearly As To Avoid Any Type Of Confusion.
- Acceptance: The Person Who Receives The Offer Agrees To All The Conditions Of The Contract.
- Consideration: This Involves Something Of Value That You Exchange To Complete The Terms Outlined In The Contract.
- Legal Intent: Each Party Involved Agrees That The Contract In Question Is Legally Binding.
- Competency: Those Parties Entering Into The Agreement Must Be Competent. In Other Words, They Must Be Of Sound Mind And Of Legal Age. In Addition, They Must Not Be Under The Influence Of Drugs Or Alcohol.
In certain cases, contracts include added elements to protect the interests of all parties involved. Below are several specific contract types where the use of an Orlando contract lawyer can be crucial:
Operating Agreement
When entering into a business partnership, it’s best to write up a detailed contract to guide your business forward and set the terms of how your business will operate. An operating agreement allows the members (owners) of a limited liability company (LLC) to customize the terms of their partnership. This will allow the agreement to set rules according to the specific needs of the owners.
You may see these type of agreements sometimes referred to as an LLC agreement or LLC partnership agreement. This type of agreement outlines all the rules and provisions of a specific business. It offers the members of the LLC protection from personal liability from the actions of the LLC. A well-drafted agreement helps to prevent any disputes that may arise in the future.
You should spell out each of these specific items in detail within your agreement. Therefore, it’s best to consult with a contract attorney when you prepare an agreement. A business contract lawyer will ensure that you properly draft the legal contract. This can help the contract stand up in a court of law in the event of a dispute.
You may also amend an agreement at a later time if you wish. This is best done with the help of a business contract lawyer. They can help you protect your interests when drafting or amending an operating agreement.
Need help with an operating amendment? Contact your Orlando contract lawyer today for more details.
This type of agreement always includes at least the following items:
- Each Member(S) Ownership Interest (LLC Members Are Free To Divide Up Ownership In Any Way They Prefer);
- The Members’ Responsibilities And Voting Rights (Members May Cast An Informal Or Formal Vote As Outlined In The Agreement);
- The Duties And Powers Of Each Member Of The LLC;
- The Profit And Loss Allocation Among The Members;
- The Rules Regarding Meetings And Voting;
- Buyout And Buy-Sell Provisions; And
- The Decision-Making Structure Of The LLC.
Bylaws
A company’s bylaws are a set of governing rules put in place to control the actions of its members. Bylaws may cover topics such as:
- The Broad Purpose Of A Charity;
- The Size And Function Of The Board Of Directors;
- Elections, Terms And Duties Of Directors And Offices; And
- Basic Rules For Voting, Holding Meetings, Electing Directors, And Appointing Officers.
All bylaws are legal documents. Therefore, they must comply with your state’s statutes for mandatory provisions. Additionally, if you incorporate your business with the state, the bylaws must comply with the articles of incorporation. You should consult a contract attorney prior to amending or drafting your company’s bylaws. This will ensure that the bylaws comply with all requirements.
Need help with your company’s bylaws? Contact your Orlando contract lawyer today for more details.
Vendor Contracts
Any business or individual should draft a contract with each of its vendors. This type of agreement sets forth the provisions and conditions of the work or service you will provide. If you draft the vendor document properly, it should provide protection against potential legal issues. However, most vendors have their own pre-drafted vendor agreements that tend to favor the vendor.
All vendor contracts should contain, at a minimum, the following details:
- The Cost Or Price Of The Goods Or Services;
- Services Or Product Provided;
- What Happens If Something Goes Wrong;
- The Date Of Delivery;
- When Payment Is Due; And
- How The Agreement May Be Ended.
You need to consider several issues when negotiating a vendor contract. It is important to make sure that you secure your interests. You will want to ensure that you protect yourself from potential legal issues. This is true if you are a vendor looking to draft a new vendor contract. It is also true if you are a business preparing to enter into an agreement with a new vendor.
A contract attorney can draft or review your vendor contract to protect your interests. A correctly drafted vendor contract will offer protection against potential liability. By creating an effective vendor contract at the outset, you will avoid any pitfalls down the road.
Need help with a vendor contract? Contact your Orlando contract lawyer today for more details.
Invoice Terms and Conditions
In the absence of a written contract, an invoice for the sale of goods or services can serve as a contract between the two parties. For this reason, it is crucial that the invoice contain terms and conditions that pertains to the sale.
The invoice in question should always contain the following details:
- An Itemized List Of The Products Or Services;
- The Price And Delivery Terms; And
- The Terms And Conditions Of The Sale.
Note that the State of Florida considers the invoice terms and conditions as contract terms. Therefore, it is important to make sure that you protect your business. This is best done with the help of a business contract lawyer.
Need help with invoice terms and conditions? Contact our Orlando contract lawyers today for more details,
You will want to assure protection of your business in case of a potential lawsuit. Therefore, it is important to make sure that you clearly state certain provisions within the invoices. These include:
- Terms Of Payment;
- Who Will Bear The Risk Of Loss During Delivery;
- Whether You Waive Any Warranties;
- What Will Constitute A Default Under The Agreement; And
- How You May Cure A Default.
Having an Orlando contract lawyer review your contract is essential.
At Bitman, O’Brien and Morat, PLLC, our attorneys care about your best interests. You can rely on us for all matters related to contract law, from simple to very complex. We can help you with drafting, reviewing and/or negotiating a contract. In addition, we can help you in the event of a contract dispute or represent you in any lawsuit that may arise based upon the terms of the contract involved.
To learn more or to consult with a qualified and committed Orlando contract lawyer, please call us at 407-815-3110. We serve you with offices in Orlando, Miami, Tampa, and Fort Lauderdale.
