Nashville, TN – Businesses should know about contract law, as they will need to have various agreements during the course of their operations. Some important areas for businesses include how to handle breach of contracts, what makes the document valid and enforceable, and what situations require a written document. It is helpful to get an overview of some potential contract issues, but legal advice should be obtained anytime it seems that there could possibly be a lawsuit or serious consequences.
What happens when a party to the contract does not follow its terms?
A party who does not follow the terms of the contract is considered to be in breach of the document. This means that the breach can result in legal action. If a court agrees with the plaintiff in the lawsuit, they can offer the non-breaching party various remedies including monetary damages in most cases. In situations where money would not be a proper remedy, the contract can be rescinded, or other remedies such as specific performance may be ordered.
Is fraud possible in a written business deal?
Although it can be a scary thought, some companies and individuals who make business deals can either lie, or they have no intention of following through with the contract as written. This can be considered fraud under Tennessee law if there was intentional misrepresentation of a material fact, the party had knowledge of the false nature of the claim, and harm was caused by reliance on the false statement or facts.
Can a party sign a contract on behalf of another person or business?
Generally speaking, a person who is an employee or representative of a company will have the power to sign an agreement on the behalf of the business. There are agency principles in the law which allow certain people to act for an entity’s interests. However, an attorney may need to investigate if there are issues regarding whether the person actually had the specific authority to do so or how the law applies in the situation.
Are contracts required with workers?
For many companies, it is a good idea to outline the terms of each worker’s employment in a written contract, then have it read and signed by the person. This will give specific language that can be used as evidence in the event of a dispute or breach of the document.
Tennessee business lawyers
The Law Office of George R. Fusner is a firm that handles business law issues in the Nashville area. People who need advice can meet with their attorneys to learn more.
USAttorneys.com is a service that gets people connected with the right lawyers in their area. Anyone who needs assistance finding a legal professional can call 800-672-3103
Firm contact info:
7104 Peach Court, Brentwood TN 37027
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